Scientists discover three Earth-sized exoplanets that may potentially harbor lifeScience & Space February 23, 5:50
Syrian opposition ready for direct talks with government delegation — representativeWorld February 22, 21:56
UN Syria envoy expects no breakthrough at new round of Syria talksWorld February 22, 21:09
Russia opposes sharing responsibility for fate of Middle East refugeesRussian Politics & Diplomacy February 22, 20:36
First woman in space Valentina Tereshkova may meet with Queen Elizabeth IIRussian Politics & Diplomacy February 22, 20:27
Spain’s famous footballer Puyol returns to Russia next week ahead of FIFA 2017, 2018 CupsSport February 22, 20:15
Putin promotes generals to higher military ranks after Syria operationMilitary & Defense February 22, 19:56
Russia, Turkey may discuss purchase of S-400 systems at March talksMilitary & Defense February 22, 19:18
European human rights watchdog welcomes court’s ruling on Russian opposition activistWorld February 22, 18:42
ISTANBUL, October 11. /TASS/. ISTANBUL, October 11. /TASS/. Russia is not considering the issue of crude production cut at the moment, Energy Minister Alexander Novak told TASS Tuesday, adding that the issue is now only about freeze.
"We’re considering the option of keeping the production at the current level, we’re not considering its reduction," he said adding that the reduction of oil output is only considered in theory.
According to Novak, the reduction of crude output may be considered as one of possible options and "as an instrument that OPEC countries use or used previously." "Theoretically, one can always consider it," he told TASS.
OPEC will formulate proposals for other countries on crude production freeze by the end of October, Novak said:
"OPEC will develop its proposals on implementation of Algiers decisions by the end of October."
As was reported earlier Russia plans to announce its proposal on crude production cap after OPEC member-states take a final decision, which is expected to be made at the cartel’s upcoming meeting in November.
On September 28, OPEC member-nations agreed to cut supply to between 32.5 and 33 mln barrels per day at the informal meeting within the International Energy Forum in Algiers.
Earlier Iran’s Minister of Petroleum Bijan Namdar-Zanganeh said that OPEC would establish a coordinating committee, which will submit the final proposal on crude production cap in November. Also, individual quotas will be defined for countries.