Russia is ready to continue dialogue with OPEC countries on a global oil production level freeze, Russian Energy Minister Alexander Novak said in an interview to Saudi-owned newspaper Asharq al-Awsat published on Monday.
"We are cooperating in the framework of consultations regarding the oil market with OPEC countries and producers from outside the organisation, and are determined to continue dialogue to achieve market stability," he said.
"We are ready to achieve the widest possible level of coordination... and put in place joint measures to achieve oil market stability, with the condition that these measures will not be for a limited period of time," Reuters quoted him as saying.
Novak also noted that a complete return of market stability is only likely in 2017.
"With regard to the cooperation with Saudi Arabia, the dialogue between our two countries is developing in a tangible way, whether in the framework of a multi-party structure or on a bilateral level," Novak stressed.
Recall that talks on a global oil production level freeze collapsed in April.
