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Russian Gazprom Neft News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Russian Gazprom Neft Forecasts Slight Surplus in Global Oil Market

The head of Russian Gazprom Neft said on Saturday he sees no need for additional oil supply cuts by OPEC+ oil producers, days before the group is due to meet on output policy. He remarked that there was a slight surplus in the global oil market. OPEC+ have agreed to voluntary output cuts totaling about 2.2 million barrels per day (bpd) for the first quarter, led by Saudi Arabia rolling over a 1 million bpd voluntary reduction.

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