Russia's Energy Market Under Pressure Amidst Global Fluctuations

Russia's energy market faces significant challenges due to fluctuating prices. Deputy Prime Minister Alexander Novak emphasized ongoing collaboration with OPEC to navigate these pressures. Speaking at a Russia-OPEC meeting, Novak reaffirmed the commitment to strengthening ties with OPEC nations, as conveyed to Secretary General Haitham Al Ghais.

Russia's energy sector is experiencing substantial pressure as global energy prices continue to fluctuate. This development was confirmed by Deputy Prime Minister Alexander Novak during a recent meeting held with OPEC representatives.

In his address, Novak underscored the importance of maintaining and enhancing cooperation with member countries of the Organization of the Petroleum Exporting Countries (OPEC). This strategic partnership is viewed as essential in managing the current market volatility.

Novak communicated this commitment to Haitham Al Ghais, OPEC's Secretary General, asserting that Russia remains dedicated to strengthening its collaborative ties with OPEC nations despite the existing market challenges.

(With inputs from agencies.)