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Russian FinMin says recent oil price surge not 'structural'
December 14, 2016 / 11:30 AM / a year ago

Russian FinMin says recent oil price surge not 'structural'

MOSCOW, Dec 14 (Reuters) - Russian Finance Minister Anton Siluanov said on Wednesday that a recent spike in global oil prices was not driven by structural factors but was a reaction to leading producers’ decision to curb output.

“I would like to say the following: the market trend for oil prices to improve in our opinion isn’t of a structural nature,” Siluanov told the upper house of parliament.

“It is a reaction to those oil output restrictions which were taken by OPEC countries for half a year.” (Reporting by Alexander Winning; writing by Vladimir Soldatkin; Editing by Christian Lowe)

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