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Oil

OPEC+ panel confirmed earlier agreed oil production levels, says Russia’s Novak

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Russian Deputy Prime Minister Alexander Novak said on Tuesday, after a meeting of the OPEC+ oil group's monitoring committee, that the panel has decided not to change earlier agreed oil production levels.

He said the situation on the oil market was “positive and oil demand was recovering,” while the rapid spread of the COVID-19 in India and Latin America was a reason for concern.

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Novak also said the next OPEC+ ministerial meeting is set for June 1, when the ministers will consider production levels for July and August.

Read more: OPEC+ sticks to plan for a phased easing of oil output cuts from May 1, sources say