Russia’s Novak: Compliance with oil output cut deal hit 102%

Russia’s Energy Minister Alexander Novak said Tuesday that compliance with a global output cut deal in the past nine months had been 102 percent.

He said compliance by OPEC countries had been 100 percent and compliance by non-OPEC countries 106 percent.

Speaking at a business forum in Moscow, Novak said it was too early however to take a decision on whether the output deal should be extended beyond the end of March.

Source: Reuters