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Oil market remains volatile, Russia’s deputy PM says

Prices may go down again, according to Arkady Dvorkovich

TAGANROG, January 19. /TASS/. The oil market remains volatile and it is early to speak about stabilization of prices, Russia’s Deputy Prime Minister Arkady Dvorkovich told reporters on Friday.

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"The oil market is volatile. One should not speak about any stability for the time being. Prices may go down again; we monitor the situation," the official said.

The decision on extension of the OPEC+ oil production capping deal or withdrawal from it will only be taken after receiving the market stability data but it is premature to talk about it so far, Dvorkovich said. "Several days [with high oil prices - TASS] passed. I think that with such prices, the decision will be made in late spring - early summer, as the Russian Energy Minister said earlier," he added.

Brent oil prices climbed above $70 per barrel in early 2018 and remain fairly high. The scenario of oil prices plummeting to critically low levels is hardly probable, Dvorkovich said. "However, as the history shows, we should not rule that out," he added.

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