Russia’s Novak: Too soon to say if OPEC deal will be extended later this year

Reuters reporting overnight comments from Russia’s energy minister Novak, citing that it’s premature to say whether the output cut deal would be extended.

OPEC's next meeting is planned for May 25.

Key Quotes:

"It is premature to talk of what we will discuss in April-May. The technical possibility of the deal extension is envisaged by the agreements."

"Each country is responsible for its production. In particular, oil companies in Russia voluntarily defined their output plans for 2017 and we can only bear responsibility for our own figures."