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Oil market balanced in terms of supply and demand — Novak

OPEC+ member-countries confirmed agreements and their effects for the second quarter, the Russian deputy prime minister noted

MOSCOW, April 3. /TASS/. The global oil market is now balanced in terms of supply and demand, Deputy Prime Minister Alexander Novak told reporters.

"The market is balanced now - this is confirmed by monitoring performed within the framework of JMMC [Joint Ministerial Monitoring Committee - TASS], which met today. January - February results, performance level of current agreements, and arrangements on quotas were summarized there," the official said.

OPEC+ member-countries confirmed agreements and their effects for the second quarter, Novak noted. "Monitoring of the situation will continue," he added.

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Alexander Novak

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