Business International

Russia welcomes consultations with OPEC on oil market

Image: The OPEC logo is seen at OPEC’s headquarters during a meeting of OPEC oil ministers in Vienna, Austria, June 5, 2015. REUTERS/Heinz-Peter Bader

ST PETERSBURG, Russia (Reuters) – Russian Energy Minister Alexander Novak said on Thursday that it was reasonable to discuss the situation on the oil market and that OPEC group was trying to organize a meeting with other producers next month.

“We, on our part, have confirmed the possibility of our participation in such a meeting,” Novak told reporters.

“For now, that’s about consultations, which could be carried out on the market situation, on the low prices and on options to coordinate the output,” he said, answering a question about coordination with OPEC.

(Reporting by Darya Korsunskaya; writing by Vladimir Soldatkin; editing by Katya Golubkova)

Copyright 2015 Thomson Reuters. Click for Restrictions.

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