Russia's Novak tells Putin global oil deal boosted state foreign currency income

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak said on Thursday a global oil output cut deal has helped balance the oil market worldwide and boosted Russia's foreign currency income.

Speaking to President Vladimir Putin, Novak also said Russia's oil-refining industry was hit by changes to taxation and lower investment.

Now, Novak told Putin, the energy ministry was working on measures that would support the oil-refining industry at home.

(Reporting by Vladimir Soldatkin; Writing by Andrey Ostroukh; Editing by Vladimir Soldatkin)