June 18, 2020 / 5:38 PM / 20 days ago

Russia's Novak says oil market may reach balance in late 2020-early 2021

MOSCOW, June 18 (Reuters) - Russian Energy Minister Alexander Novak said on Thursday the global oil market may reach a balance by end-2020 or in early 2021.

Novak, however, said he does not rule out that the supply and demand balance could be reached quicker, in a month or two.

Novak said the OPEC+ group may hold an extraordinary meeting if needed ahead of the planned meeting scheduled for December. (Reporting by Vladimir Soldatking and Olesya Astakhova; Writing by Andrey Ostroukh Editing by Chris Reese)

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