MOSCOW (Reuters) – Russian Energy Minister Alexander Novak said on Thursday that the global oil market may see a shortage of 3-5 million barrels per day (bpd) in July, depending on the parameters of a deal to be reached by OPEC+ producers, Interfax news agency reported.
Novak said global oil oversupply fell to 7 million bpd in May, Interfax reported.
He added that he did not expect the United States to take a formal decision on oil production cuts and said Moscow remains in discussions with Washington regarding the situation in the oil market.
(Reporting by Maria Kiselyova and Vladimir Soldatkin; editing by Jason Neely)
