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Russia may consider oil production cut

Russia may consider oil production cut

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Date: 27 October 2016 20:46


Baku, October 27, AZERTAC

At this stage of talks on oil market stabilization Russia considers reasonable production freeze, but during the negotiations process Moscow may change its stance and discuss a production cut, Russian Permanent Representative to the International Organizations in Vienna Vladimir Voronkov said Wednesday, according to Sputnik News.

"The thing is that negotiations is a process during which joint approaches are developed. Of course, as of today, when talks are still at an early stage, it is hard to say what a joint wish is going to lead to. But for today I can confirm that for us, as a starting point, we do not consider production cut a reasonable approach. We consider reasonable production freeze and gradual reaching of balance on the oil market," Voronkov told RIA Novosti.

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