Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Russian energy minister says OPEC oil supply deal is 'reasonable'

Oil | Crude Oil | Oil Risk | Shipping | Marine Fuels | Tankers

Saudi shut-in after attacks, and an exploding scrubber: just another week in oil

Oil

Platts Market Data – Oil

NGL | Oil | Crude Oil | LPG | Oil Risk | Petrochemicals

Platts University New York

Oil | Crude Oil | Oil Risk | Refined Products | Gasoline

Crude settles lower as Saudi attacks take back seat to growth concerns

Russian energy minister says OPEC oil supply deal is 'reasonable'

Vienna — Russian energy minister Alexander Novak on Saturday gave his stamp ofapproval to OPEC's decision to increase oil supply by reducing its level ofover-compliance with partners Moscow and other allies.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Speaking to reporters on arrival in Vienna for talks with OPEC, Novaksaid the decision "corresponds to the proposals which were worked out" atThursday's meeting of the OPEC/non-OPEC monitoring committee, on which hesits.

"It corresponds to today's ideas of what needs to be done on the market,"Novak said. "I think at this stage 1 million barrels is reasonable."

Saudi energy minister Khalid al-Falih said Friday the deal would resultin a nominal output boost of "just under 1 million b/d" from the 24-countrycollective, while other ministers estimated that the real increase wouldamount to between 600,000 to 800,000 b/d.

OPEC aims to finalize the deal with its non-OPEC partners later Saturdayin Vienna at a meeting scheduled to start at noon local time.

--Staff, newsdesk@spglobal.com

--Edited by Andy Critchlow, newsdesk@spglobal.com