Pres spox says Russia in active talks to stabilize oil market

MOSCOW, Oct 27 (PRIME) -- Russia’s Energy Ministry is maintaining active contacts with foreign colleagues to discuss measures which could stabilize the oil market, presidential spokesman Dmitry Peskov told reporters on Thursday.

“As you probably remember, there was a meeting in Istanbul, where issues concerning mainly bilateral interaction were discussed, but there was also a discussion of issues of cooperation in efforts to stabilize the global oil market," Peskov said.

"In this context, an order was given to the energy ministers to continue the contacts, which is what (Russian Energy Minister Alexander) Novak does very actively, and there is indeed a quite intensive message exchange.”

OPEC agreed to limit daily oil output at 32.5–33.0 million barrels at an informal meeting in Algeria in September. The ceilings for each country will be defined at the organization’s next official meeting on November 30 in Vienna. President Vladimir Putin said that Russia is ready to join OPEC in a freeze of oil production, if an agreement is reached.

Oil producing countries did not discuss production figures at an informal OPEC meeting in Istanbul, but considered cooperation mechanisms with non-OPEC countries, Novak said then.

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