Lack of Algerian agreements on the oil market stabilization would not be critical for Russia, country's Energy Minister Alexander Novak said.
"For us, theoretically, it would not be crucial but we think that it is possible to speed up the market balancing process. It is beneficial for everybody," Sputnik cited Novakas saying.
The OPEC member states are expected to renew talks on a possible oil output freeze with non-member states at the September 26-28 International Energy Forum (IEF) in Algiers. The Organization of the Petroleum Exporting Countries (OPEC) reportedly wants to hold an informal meeting with non-OPEC oil producers, such as Russia, on how to stabilize the market.
Russia has not received any proposals from oil exporting countries to decrease the oil production in order to balance the market, the Russian energy minister said. "Nobody has put forward such proposals to us. These are, probably, individual statements. We should gather all together and discuss it."
