Russia is yet to take a final decision about whether it will be necessary to extend the current oil output cut deal with the Organization of the Petroleum Exporting Countries (OPEC) and its allies, according to Russian Energy Minister, Alexander Novak, Reuters reported.

Moscow is still weighing all options in making its call, according to Novak, who noted that Russia will take into consideration the market situation before taking the decision.

The Head of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, signaled on April 8 that Russia plans to change the supply deal and raise oil production after the OPEC summit in June.