Russia's Novak: For now OPEC+ oil producers are operating on a case by case basis

Russian Energy Minister Alexander Novak recently crossed the wires saying that OPEC+ oil producers were operating on a 'case by case basis,' and added that they didn't have a scenario prepared for sharp increases in oil prices, as reported by Reuters. Commenting on Iran's oil output, Novak said that he favoured Iran to maintain its position in the oil market.