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Russia urges G20 countries to act jointly

Russian Energy Minister Alexander Novak said that participation of G20 countries in the deal is needed because their share of global GDP is some 80%, while the crisis in the oil industry threatens to have serious socioeconomic consequences

MOSCOW, April 10. /TASS/. Cooperation among G20 countries on the issue of global oil production cuts is required and partners are called for joint action, Russian Energy Minister Alexander Novak said on Friday at the G20 Energy Ministers meeting.

"All the countries - oil producers should pool efforts now. The committee proposed for setup within the Group of Twenty is called to support coordination of cooperation for purposes of increasing the level of energy market stability and safety in interests of sustainable development of all countries," Novak said. "I urge everyone for joint actions and efficient measures for recovery of the energy market," he added.

Participation of G20 countries in the deal is needed because their share of global GDP is about 80%, while the crisis in the oil industry threatens to have serious socioeconomic consequences for the whole world, Novak noted. This will affect both consumers and producers of oil, he added.

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