No Confirmed OPEC/ Non-OPEC Meeting – Russia’s Energy Minister Novak

By FXStreet FXStreet (Mumbai) – In a Bloomberg interview in the last hour, Russian Energy Minister Alexander Novak noted that there is no confirmed meeting of OPEC and non-OPEC nations to discuss production cuts.

Key Quotes:

Discussions on production only possible if all exporters agree

Last met Saudis re oil in Nov, no approaches since then

Ready to discuss oil output but not ready for any decision

May adjust 2016 flat-output f/cast due to low oil prices

Meanwhile, both crude benchmarks have wiped out most gains, with the US oil up 0.23% near $ 33.30, while the Brent drops below $ 35 barrier, up +0.25% on the day.
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Source:: FX Street