G20 meeting may offer more clarity to OPEC, non-OPEC - Russia's Novak

OSAKA: Russian Energy Minister Alexander Novak said on Friday he hoped a meeting of G20 nations in Japan would provide clarity for OPEC and non-OPEC oil producers as they consider whether to extend deal on cutting supplies beyond June.

"The market is currently in a very interesting phase. On one hand, it seems to be balanced in terms of supply and demand. But on the other hand, there are so many uncertainties," Novak said.

"We hope that there will be more clarity and more visibility after the G20 summit in Osaka," he said, adding that he expected the oil producers to take balanced decision about supplies.