Russian Energy Minister Alexander Novak said there were different options available for OPEC and its oil-producing allies in the second half of 2019, including a possible raising of output.
OPEC and its allies held their ministerial monitoring committee meeting, known as the JMMC, on Sunday in the Saudi Arabian city of Jeddah.
Russia has been vocal about raising production while OPEC's de-facto leader, Saudi Arabia, has been wary of a possible price crash that an output increase could cause. "As far as our joint plan of action for the second half of the year. We are supportive of continuing our cooperation with our colleagues from other countries and OPEC non-OPEC countries," Novak told CNBC's"But this continuation could depend to various extents on how the situation unfolds by this time and what the forecasts for supply and demand will be on the market.
Russia has been vocal about raising production while OPEC's de-facto leader, Saudi Arabia, has been wary of a possible price crash that an output increase could cause. The output cuts have so far this year helped oil prices to rise more than 30%.
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