Before an OPEC+ meeting, Novak talks about global oil market ‎conditions ‎

Russian Deputy Prime Minister Alexander Novak revealed his view of the global oil market, and this comes days before the “OPEC+” group holds a meeting during which it will discuss its production policy.

According to “Russia Today,” Novak said in a speech at the “Government Hour” event in the Russian Federation Council on Wednesday, that global oil prices objectively reflect the current situation in the global oil market and the market itself is balanced.

Oil prices witnessed a noticeable decline this November, especially before the OPEC+ meeting, which is scheduled to be held at the end of this November. Media reported about the possibility that the group would expand or extend production cuts.