Output depend on Opec accord, talks: Russia

RIYADH — Russian Energy Minister Alexander Novak said on Sunday that Russia’s production level in any accord to shore up prices would depend on the agreement Opec members struck between themselves beforehand, and on Moscow’s discussions with the exporter group.

“I would like to stress once again that we are not ready to give figures because consultations are continuing and the levels would be dependent on the final agreement of Opec and the result of our Opec negotiations,” he said.

When asked whether Russia would freeze at current levels or cut below them, Novak replied: “We are loooking at a number of options. I don’t want to give the final decision yet but we are considering a few options at the moment.”