November 29, 2018 / 1:52 PM / 6 months ago

Russia sees OPEC, non-OPEC producers reaching beneficial agreement for oil market - RIA

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak said on Thursday that Moscow expects OPEC and non-OPEC oil producers at a ministerial meeting in December to reach an agreement that is beneficial for the oil market, RIA news agency reported.

He also said the energy ministry is still considering a proposal on whether to cut oil production, another news agency, TASS, cited the minister as saying.

“We are in the course of making (a decision) and an evaluation of the situation, particular regarding the forecast for the demand and consumption balance in the first and second quarters”, he said, according to RIA.

Writing by Denis Pinchuk; Editing by Jan Harvey

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