Russian Finance Minister on extension of oil deal: we should use favourable oil prices

Russian Finance Minister on extension of oil deal: we should use favourable oil prices

Russian Finance Minister Anton Siluanov said that he would support an extension of a global oil output cut deal as it should help Russia to replenish reserves.

"The extension of the agreement is aimed at supporting and stabilising oil prices at current levels, which should positively impact balances of payments of oil-producing countries," Reuters cited Siluanov as saying.

Russian Finance Ministry is planning to use favourable crude prices to build up reserves in order to withstand possible oil market volatility in the future, Siluanov added.

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