Russia Central Bank Chief Says World Oil Market Still Oversupplied


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 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Accounting
Expertise: Accounting
Location: Houston, 
Senior Tax Accountant
Expertise: Accounting|Financial Audit
Location: Chesterfield, MO
United States Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $59.02/BBL 3.79%
Light Crude Oil : $52.22/BBL 3.07%
Natural Gas : $2.92/MMBtu 1.31%
Updated in last 24 hours