Novak: Oil price recovery may take several months

The Russian Energy Ministry believes that the oil prices may recover in a few months, Energy Minister Alexander Novak told Russia-24, Report informs.

The minister said Russia could increase its daily output by 250,000-300,000 barrels a day and then by 500,000 barrels in the short term.

OPEC countries discussed the issue of output cuts only within the OPEC+ deal. Russia and OPEC members are scheduled to meet in May-June to discuss the situation.