Russia's Novak: early to speak about options for oil output deal

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FILE PHOTO: Russian Energy Minister Alexander Novak attends a session of the Russian Energy Week international forum in Moscow, Russia October 3, 2018. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) – Russia’s Energy Minister Alexander Novak, speaking about Moscow’s position on extending a global oil output deal, said on Wednesday it was too early to speak about preferable options.

“We should do what is more expedient for us,” Novak said.

The deal should be aimed at balancing the global oil market but should not be designed to achieve a certain oil price level, Novak said.

In June, OPEC and its partners – including Russia – will decide whether to extend their agreement, which has reduced supply since January.

Reporting by Darya Korsunskaya; Writing by Polina Nikolskaya; Editing by Kirsten Donovan