OPEC+ Actions Stabilize Global Oil Market, Novak Says

Thanks to coordinated moves by OPEC+, the global oil market has reached a degree of balance and remains under cautious supervision. This assessment was shared by Deputy Prime Minister of the Russian Federation Alexander Novak during Energy Day, at the Russia forum exhibition, as reported by TASS. The message emphasized that the market has settled and is now manageable through the collective actions of the member nations. Novak stated that the stabilization is a direct result of the OPEC+ policy framework and the disciplined approach of supplying countries. These remarks align with ongoing efforts to maintain predictable flows and avoid price shocks that could ripple through North American economies, energy sectors, and consumer markets across Canada and the United States, where energy cost trends influence inflation and industrial activity.