Russia Central Bank Chief Says World Oil Market Still Oversupplied

Reuters

MOSCOW, March 18 (Reuters) - Russia's central bank governor Elvira Nabiullina said on Friday that there remained an oversupply on world oil markets.

Speaking to reporters after the central bank left its policy rate unchanged at 11 percent, Nabiullina said that a slight recovery in the oil price over the past few weeks was linked to market expectations.

Some of the world's major oil producers have tentatively agreed to freeze output levels.

(Reporting by Katya Golubkova and Alexander Winning; Writing by Christian Lowe; Editing by Andrew Osborn)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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