Novak: Russia does not plan to withdraw from OPEC+ deal
Russia does not plan to withdraw from the OPEC+ oil production limiting deal despite the current oil price above $70 per barrel, the country's Energy Minister Alexander Novak said on the sidelines of the Gaidar Forum.
"We look at the balance of demand and supply in the first instance. Prices are not the main factor for us [regarding the decision to withdraw from the deal]," TASS cited the minister as saying.
The energy ministers of the countries participating in the agreement have repeatedly said that the withdrawal from the deal should be smooth. In particular, the ministers of Saudi Arabia and Russia Khalid Al-Falih and Alexander Novak said earlier that the withdrawal may take 3-6 months after the deal is completed.