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Russia's Novak: Oil market would balance quicker with producer cooperation
Comments from the Russian energy minister •The IEF can help with OPEC & Non-OPEC dialouge •He's not bee short of comment today. Brent's been pretty tight so far and we're just sitting off new lows at 46.34. OPEC sec gen Barkindo popping up now on Bloomberg too •OPEC consultations are ongoing •OPEC members have made progress since Doha Sky news now reporting that the Saudi's have offered to cut output by 500kbpd if Iran freezes output. That headline has lifted Brent by 20 ticks from a 47.26 low. They want Iran to freeze at 3.6mbpd. It's pretty much along the lines of the deal that's been bandied about ... (full story)
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