Will Russia cut oil production?

Will Russia cut oil production?

At this stage of talks on oil market stabilization Russia considers reasonable production freeze, but during the negotiations process Moscow may change its stance and discuss a production cut, Russian Permanent Representative to the International Organizations in Vienna, Vladimir Voronkov, said.

“The thing is that negotiations is a process during which joint approaches are developed. Of course, as of today, when talks are still at an early stage, it is hard to say what a joint wish is going to lead to. But for today I can confirm that for us, as a starting point, we do not consider production cut a reasonable approach. We consider reasonable production freeze and gradual reaching of balance on the oil market,” Sputnik cited Voronkov as saying.

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