MARKET WILL BE BETTER
REUTERS - Russian Energy Minister Alexander Novak said a global pact by OPEC, Russia and other producers to cut oil output had dampened price volatility and was reducing bloated inventories, so no immediate extra measures were needed to prop up prices.
The minister also told Reuters there was potential for an oil price rise from current levels and that $50 to $60 was "fair" value for a barrel, after benchmark Brent fell 20 percent in the first half of the year. It now trades at around $48.
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