Energy Ministers of Russia, U.S. Talk Joint Measures to Stabilize Oil Market

Russian Minister of Energy Alexander Novak and U.S. Secretary of Energy Dan Brouillette discussed the situation on the global oil market and measures undertaken to stabilize it by telephone, TASS reports, citing the Russian Ministry of Energy.

“The current condition and prospects of the global market along with undertaken collective measures to stabilize it were discussed during the conversation. Heads of energy authorities of Russia and the U.S. agreed to continue the dialog,” the Ministry said.

On April 12, OPEC+ countries clinched a new oil reduction deal. It provides for the overall reduction of daily oil production by 9.7 million barrels in May – June, by 7.7 million barrels in July – December, and by 5.8 million barrels in January 2021 – April 2022.

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