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Novak announces targeting Russia in full compliance with the OPEC + agreement

Russia's deputy prime minister, Alexander Novak, said on Wednesday that Russia aims to fully comply with its agreement with OPEC and other major oil producers to limit production in order to support the global crude market, TASS reported.

He added that it is important to monitor the production of non-members of the agreement between the Organization of the Petroleum Exporting Countries and other producers in what is known as the OPEC + group, according to the RIA news agency.

A draft statement, seen by Reuters and a source in OPEC, stated that the OPEC + committee will not issue any recommendation regarding changing the policy of oil production at its meeting on Wednesday.

The draft statement said the Joint Ministerial Monitoring Committee was "optimistic about achieving a recovery in 2021."

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