ECHR rules not to revise its judgement on Beslan hostage taking caseWorld September 19, 19:18
Trump vows to 'totally destroy North Korea' if threatenedWorld September 19, 17:50
Russian top brass calls on US to not hamper Damascus’ fight against terrorismMilitary & Defense September 19, 17:49
Zapad-2017 exercise puts Russian army’s "nervous system" to testMilitary & Defense September 19, 17:33
Ukrainian conflict led to spike in hate speech, Russophobia — Council of EuropeWorld September 19, 17:00
Russian regions contribute scores of natural stones for memorial to Gulag victimsSociety & Culture September 19, 16:45
Warsaw police hunting vandals who desecrated Soviet military cemeteryWorld September 19, 16:39
Donbass truce first step towards lifting anti-Russian sanctions — German top diplomatWorld September 19, 16:36
Moscow court arrests man suspected of stabbing hiker to deathSociety & Culture September 19, 16:34
VLADIVOSTOK, September 3. /TASS/. The global crude market is still unbalanced, Russia’s Energy Minister Alexander Novak said Saturday, adding that the proposal to freeze oil output may be on the agenda of the forum in Algeria.
"We’re sticking to the view that we always have the doors open from the viewpoint of monitoring the situation (on the oil market). The market situation is still challenging… given the drop in prices the market has not got back to balance yet. That’s why I think that we will be able to discuss the current situation with our colleagues at the ministerial meeting in Algeria, which will be held on the sidelines of the international energy forum, particularly the discussion within the meeting may focus on the situation on the whole and on various proposals, including ‘freezing’," he said.
The International Energy Forum will be held on September 26-28 in Algeria, where the countries - exporters of oil are going to negotiate freezing of oil production. Venezuela, Ecuador and Kuwait are initiators of the discussion. Ministers of Saudi Arabia, Iraq and Iran have already confirmed their participation in private talks.
Russia's crude export growth outlook
Russia’s Energy Ministry is keeping its crude export growth outlook for this year at the level of 3.3%, Minister Alexander Novak told TASS Saturday, adding that growth is also expected for 2017.
"We haven’t changed (the forecast - TASS). In 2017, there will be fractional growth (of export)," he said.
Earlier Novak said that Russia’s crude export would reach 252 mln tonnes in 2016, a 3.3% increase compared with 2015.
According to First Deputy Energy Minister Aleksey Texler, oil export from Russia will be rising in 2015-2018 by 2-3 mln tonnes each year due to falling refinery volumes.