Russia can in theory cut oil production by 5% - Deputy Minister of Energy
Russia can in theory cut oil production by 5 percent as part of possible agreements with other manufacturers on the global market stabilization, he said on Thursday Deputy Energy Minister Kirill Molodtsov.
The possibility of adjusting production rates agreed with the Russian manufacturers, Molodcov said on the sidelines of an industry conference in Moscow.
Molodcov later clarified that the possibility of reducing discussed with Russian companies mining, but no formal agreement yet.
"I said that this is what was discussed with the companies"- said Molodcov, departing from the original comment on the government's agreement with the companies.
The largest producing countries of OPEC and non-OPEC countries could not agree on ways to support oil prices at a meeting in Doha in April because of the contradictions within OPEC between Saudi Arabia and Iran. They are expected to return to the discussion freezing production volumes at the meeting, which will be held 26-28 September in Algeria.
Fellows refused to answer the question on possible proposals Russia at a meeting in Algeria.
Meanwhile, daily oil production in Russia has entered the post-Soviet record in September this year.
"We September 8 crossed the level of daily production of 11 million barrels ... In this situation, we can be quite confident at somewhere 11.1 (million barrels per day)"- Molodcov said.
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