Russia’s Novak: Will wait until next OPEC meeting before deciding on extension of output cut deal

Russian energy minister Alexander Novak is on the wires now, via Reuters, speaking on the OPEC deal extension in Doha.

Next OPEC meeting is scheduled on May 25^th in Vienna.

Key Headlines:

Russia will wait until next OPEC meeting before deciding on extension of output cut deal

Need to see more technical analysis of global oil market, stock levels

Separately, Qatari oil minister noted that he is satisfied with level of compliance in OPEC cut agreement.