Alexander Novak: No critical situation observed to make OPEC+ change volume of output

OPEC+ is not going to make urgent decisions to regulate oil output, Russian Energy Minister Alexander Novak said at the Russian Energy Week International Forum (REW 2019), Report informs.

"In case of crisis, we’ll be able to pass a decision to reduce or increase the output. This practice was used during past three years and positively affected the balancing of the market. Therefore, we see no critical situation that make us pass any urgent decision," he said.

Novak said OPEC+ participants are closely following the market.