Russia says current oil prices beneficial to producers and consumers, no interest in overheating market

Russian Energy Minister Alexander Novak said on Wednesday that current oil prices were beneficial to producers and consumers, Reuters reports.

Novak told media at an economic conference in the Russian far eastern city of Vladivostok that no one was interested in overheating the oil market.

Oil prices LCOc1 have pushed higher in 2018, supported by production curbs, solid demand and looming U.S. sanctions against Iran.