OPEC+ do not respond to one-off factors, said Novak

© RIA Novosti / Ramil to Setdiscoverable in fotomancer of energy of Russia Alexander Novak at the IX-th the Gaidar forum in Moscow. 16 January 2018OPEC+ do not respond to one-off factors, said Novak© RIA Novosti / Ramil to Setdiscoverable the image Bank

OPEC+ should not react to one-time factors need consistency in decision-making, told reporters Russian energy Minister Alexander Novak.

«You need to watch how the situation will develop in the market. Anyway, if we talk about the remains — the remains are not balanced yet. Therefore, it is necessary in the longer term, consider this issue. As we agreed, we will, in principle, to discuss it at the Ministerial meeting in June. Now, I believe we need to continue to act according to the agreement, not to respond to any single momentary moments. I think we need to be consistent, stable in its decisions,» said Novak, answering the question of whether to renew the agreement OPEC+, given the price spikes of oil.

Last week, on Thursday, January 11, the price of oil Brent for the first time since December 4, 2014 exceeded $ 70 per barrel. On Tuesday, price moved to corrective decline and is located at about 69.3 per barrel.

OPEC and several non-organisation countries (OPEC+) agreed in late 2016 in Vienna on the reduction of its oil production to total 1.8 million barrels per day from the level of October 2016, of which 300 thousand are in Russia. In November 2017, the parties extended it until 2018. The next OPEC summit will be held on 22 June 2018 in Vienna.