Russia says it is studying OPEC+ panel proposals, watches coronavirus impact

Russian Energy Minister Alexander Novak said in a statement on Tuesday that Russia is closely studying the recommendations of an OPEC+ panel. The OPEC, non-OPEC technical panel, known as JTC, recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of the coronavirus on oil demand.

Novak also said that Russia was closely watching the impact of a new coronavirus outbreak on global energy markets. "The situation remains extremely uncertain," he said in the statement.