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OPEC+ agreement shows its efficiency — Novak

The Russian deputy prime minister said it continues functioning over the decade

MOSCOW, December 25. /TASS/. The OPEC+ agreement has demonstrated its efficiency for global oil market rebalancing, Russian Deputy Prime Minister Alexander Novak said in an interview with Rossiya-24 television.

"Certainly, it can be boldly stated this instrument has proved its efficiency. It continues functioning over the decade, and during that period it showed efficiency when rebalancing either to the side of the consolidated production cut by these countries, and to the increase side," Novak said.

The global oil market is now rebalanced, the deputy prime minister added.