Russia has not received proposals from the oil-producing countries to reduce output to balance the market. This was reported on Sunday by Russian energy Minister Alexander Novak. However, according to him, Moscow is ready to discuss all proposals at the upcoming meeting in Algeria.
“To us nobody came out with such proposals. This, apparently, application of the individual, will have to get together soon and discuss,” said Novak.
In this case, according to Minister of energy, the lack of agreement on measures for stabilization of the oil market will not be critical for the country.
“we are, in principle, not critical, but we believe that it would be possible to speed up the process of balancing the market. It is beneficial to all,” added Novak.
According to him, the question of reduction of volumes of oil production by artificial means is not discussed.
Informal OPEC meeting scheduled during the International energy forum in Algeria, 26-28 September.
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