February 14, 2018 / 3:33 PM / 9 months ago

Russia's Novak: dollar rate, investments, are benchmarks for oil deal - energy ministry

Russian Energy Minister Alexander Novak addresses a news conference after an OPEC meeting in Vienna, Austria, November 30, 2017. REUTERS/Heinz-Peter Bader

MOSCOW (Reuters) - Participants in the global deal on oil output cuts, when deciding when to exit the pact, will take into consideration whether the market is balanced, the U.S. dollar rate and the level of investments, the Russian energy ministry quoted minister Alexander Novak as saying in an interview with Platts.

Excerpts of the interview were published by the energy ministry on Wednesday.

Novak also said the time for exiting the deal has not come yet.

Saudi Energy Minister Khalid al-Falih said earlier on Wednesday the Organization of the Petroleum Exporting Countries and its non-OPEC allies would need to consider in the coming months how to adjust the targets in the pact, including how to measure the five-year average of oil stockpiles.

Reporting by Vladimir Soldatkin; Editing by Christian Lowe

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