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Gazprom supports oil production freeze, not contraction

October 10, 17:33 UTC+3
Russia is ready to join the decision to limit or freeze oil production that is required to maintain stability of the oil market
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© Vladimir Smirnov/TASS

ISTANBUL, October 10. /TASS/. Gazprom supports oil production freeze but not its cut, Deputy Chief Executive Officer of the Russian gas holding Alexander Medvedev said on Monday at the World Energy Congress.

"Both oil and gas producers’ teams will attempt to stabilize production. Freeze, not contraction," Medvedev said responding to a question whether Gazprom exactly supports production freeze.

Russia is ready to join the decision to limit or freeze oil production that is required to maintain stability of the oil market, President Vladimir Putin said earlier today.

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