![© Reuters. Russian Energy Minister Novak attends Russian Energy Week forum in Moscow](https://usercontent.one/wp/www.newsgroove.co.uk/wp-content/uploads/2019/03/Russia039s-Novak-says-decision-on-future-of-oil-supply-cut-pact-by-May-June.jpg?media=1711065099)
BAKU (Reuters) – Russian Energy Minister Alexander Novak said on Sunday that a decision would be made by May or June on whether to continue with an ongoing oil output pact between OPEC and non-OPEC members through the second half of this year.
Novak said that Russia was committed to the supply cut pact, which is due to expire in June.
Currently, the group sees oil prices as being stable, with volatility low, Novak said. Demand will rise in the second and third quarters, he added.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.