Russia is not considering oil production cut, only oil freeze on agenda

The reduction of crude output may be considered as one of possible options.

Russia is not considering the issue of crude production cut at the moment, Energy Minister Alexander Novak told TASS Tuesday, adding that the issue is now only about freeze.

"We’re considering the option of keeping the production at the current level, we’re not considering its reduction," he said adding that the reduction of oil output is only considered in theory. 

According to Novak, the reduction of crude output may be considered as one of possible options and "as an instrument that OPEC countries use or used previously." "Theoretically, one can always consider it," he told TASS Tuesday.

First published by TASS.

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