Russian min: Oil deal states plan no extraordinary meeting

MOSCOW, Jun 20 (PRIME) -- Oil producing states participating in the OPEC plus nonmember output reduction deal have not asked for an extraordinary meeting following a fall of the Brent price to below a six-month low, Russian Energy Minister Alexander Novak told reporters on Tuesday.

“We have to monitor the market, the situation. How the events will unfold in terms of balance between demand and supply. Demand rises during the summer period, we will watch it and monitor. There are no proposals to hold extraordinary meetings and take steps. We are acting in accordance with the earlier decisions,” Novak said.

Russia is not going to hold discuss the oil market situation with U.S. shale oil producers, Novak also said.

“American producers are market companies, we do not meet with market companies. We hold negotiations between ministers,” Novak said.

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