‘Excessive oil supply could be eliminated in H2 2016’ – Russian Energy Minister

FXStreet (Mumbai) - Speaking on the side-lines of the G20 summit in Turkey, Russia’s Energy Minister Alexander Novak stated that he sees gap between supply and demand is narrowing on global oil market.

Key Quotes:

‘Gap between supply and demand is narrowing on global Oil market‘

‘Excessive Oil supply could be eliminated in H2 2016’

‘OPEC is ready to hold consultations with Russia to assess situation on global Oil market’

‘There is no common position in OPEC on Oil output cuts’