Russia's Novak: Oil prices above $60 show market is stable

Russia's energy minister, Alexander Novak, on Wednesday said that they will continue to monitor the oil market situation in the fourth quarter of the year and the first quarter of 2020, as reported by Reuters.

"Oil prices above $60 per barrel show that the oil market is stable," Novak argued. As of writing, the barrel of Brent was trading at $62.70, losing 0.38% on a daily basis and the barrel of West Texas Intermediate (WTI) was down 0.2% on the day at $57.10.