Novak: there are risks to oil markets, but situation improving

Russian Deputy Prime Minister Alexander Novak said on Wednesday that he shared concerns about risks and uncertainties on the global oil markets, but added that the situation has improved.

"I undoubtedly share the concerns which we have heard today... over lots of uncertainties and risks, the lockdowns," he was quoted as saying to a state-run TV station.

"However, if (we) look at the situation, it is much better than a year ago, than it was in autumn," RIA Novosti cited Novak as saying.

His comments were published as the monitoring committee of the OPEC+ group of leading oil producers met online earlier on Wednesday. OPEC+ ministers hold a full meeting on Thursday in order to decide on production policy.