Russian Prime Minister Alexander Novak, On Talk Of OPEC+ Quota, Says Cuts Is Not Happening Right Now, There Is A Shortage In The Market; We Are Seeing A Recovery In Oil Demand; OPEC+ Ministers Will Discuss The Market Situation And Compliance With The Agreement At Their Meeting On Sunday
-Reuters Citing Russia's Interfax.
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Why It Matters
Russia says oil cuts aren't happening right now because people need more oil and demand is getting better. When OPEC+ meets Sunday, they'll talk about whether everyone is following their agreement and what the market needs.
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