Russia’s Novak: Russia will need to raise oil output at some point

Russia will need to raise oil output at some point, Russian Energy Minister Alexander Novak said in an interview, Reuters reported.

Additional Comments:

OPEC+ deal is positive for the market but it can't last forever.

Next year we will discuss raising oil output.

Both crude benchmarks are trading at their highest levels since September amid trade deal optimism and hopes of improved economic outlook next year.