Novak to discuss market situation with Russian oil CEOs

Novak to discuss market situation with Russian oil CEOs

Russia’s Energy Minister Alexander Novak will meet executives from the nation’s key oil companies today as global crude prices hover at their lowest in nearly two decades, according to a person familiar with the schedule.

The ministry plans to hold the meeting face to face rather than via a video link, the person said on condition of anonymity as the plans are not public, Bloomberg reported.

Novak had said before that the ministry may have to discuss production plans with the companies’ heads regularly over global oil-price volatility.

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