Russia may join oil agreement only if OPEC countries reach consensus
By Trend
Russia agrees non-OPEC countries should join the agreement on stabilizing the oil market after OPEC members reach a consensus, and Moscow continues negotiations with its partners on the matter, Russian Energy Minster Alexander Novak said on Saturday, Sputnik International reported.
"We back the position that OPEC countries should first reach a consensus before other countries could join the agreement. Russia remains positive about the agreement and continues to participate in the consultations with our partners," the minister told journalists.
In September, the OPEC club of the world's major oil producers reached a preliminary agreement in Algeria to set the oil output ceiling at 32.5-33 million barrels a day for the cartel. The OPEC countries have yet to finalize the deal at the November 30 meeting in Vienna with non-OPEC states, including Russia, open to capping the output.
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