The absence of agreements on freeze will not affect the change of oil production volumes in Russia as the state does not regulate such issues in companies’ activity, Tass reports.
The lack of agreement on oil production freeze will also have no impacts on Russia, Alexander Novak added.
"I don’t think it will have any impacts on Russia as out companies continue to operate on the market with a high degree of competitiveness. We think the market situation will level the balance of demand and supply," Tass cites Novak as saying.
Novak said consultations will be continued and later it will become clear which solution OPEC countries may reach and whether they are able to recognize they all must take part in the oil production freeze agreement.
