Russian Energy Minister Alexander Novak will attend the OPEC monitoring organization’s virtual assembly on Wednesday, despite testing positive for COVID-19, the Russian Energy Ministry said Tuesday.
Earlier on Tuesday, Russian Prime Minister Mikhail Mishustin said Novak tested positive for coronavirus on a stopover in Russia’s Far East. Novak has returned to Moscow and will paint remotely, the ministry said.
Novak feels and has no symptoms, and plans to attend the OPEC panel assembly on August 19 via videoconference, a representative of the Russian Energy Ministry told RBC.
Prime Minister Mishustin and Vladimir Putin’s press secretary Dmitry Peskov recovered from COVID-19 after contracting the virus this year.
The JMMC will meet this week, but will not discuss any revision of the existing production relief pact and is not expected to make primary decisions to amend the agreement, Novak said last week.
The OPEC-led coalition saw its 95% oil production cuts in compliance rate in July, Reuters 4 resources from the organization told Reuters on Monday, one point a point a month, if there are more one-month voluntary cuts from a month in Saudi Arabia, the United Arab Emirates. and Kuwait by June are excluded.
At the panel meetings last month until mid-July, JMMC noticed an improvement in the rate of compliance with the reductions. The overall compliance rate for the OPEC Group reached a record 107% in June, due to new voluntary contributions from Saudi Arabia, the United Arab Emirates and Kuwait, which reduced a total of 1 million b/d in June to the most sensitive level of their cut stocks. Without these 3 voluntary overlaps, the OPEC Group’s compliance rate is 95% in June, which remains the highest since the cuts began in January 2017.
By Charles Kennedy to Oilprice.com
Read this article in OilPrice.com
This story gave the impression to Oilprice.com