Bloomberg: Russia ready to limit oil output

 Bloomberg: Russia ready to limit oil output

Russia, the world’s biggest energy producer, is “on board” with an OPEC agreement to limit crude oil production to help re-balance the market, OPEC Secretary General Mohammed Barkindo said at an energy conference in Abu Dhabi.

According to him, OPEC producers remain committed to an agreement reached last month in Algiers to trim output, and cooperation from non-OPEC producers will help bring the oil market back into balance.

“We as OPEC remain committed to the Algiers accord. I have heard from the highest quarters in Moscow that Russia is on board,” Bloomberg cited him as saying.

OPEC wants to put the changes into effect when it meets in Vienna on November 30.