Russia says not to sell oil at any price to maintain sales

MOSCOW, Mar 1 (PRIME) -- Russia will not sell its oil at any price with the only goal of maintaining sales, First Deputy Energy Minister Pavel Sorokin said on Wednesday during a conference of the Valdai discussion club.

Deputy Prime Minister Alexander Novak said in February that Russia would voluntarily cut its oil production by 500,000 barrels per day in March in order to help the market to recover.

“It is important to understand the principles on which this contraction was based. The principles that were defined by the president and by Alexander Valentinovich Novak say that there is no goal to sell oil at any price purely for the volume,” Sorokin said.

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