Russia, the world’s top oil producer, sees no grounds for new talks on freezing oil production yet but is open to negotiations, Energy Minister Alexander Novak said on Monday.
He told reporters: “If other countries raise the issue of a freeze, we are ready to discuss this.”
“But the position of Russia is that the prerequisites for this have not yet come to pass, considering that prices are still at a more or less normal level.”
Novak added that talks on freezing output could possibly happen if prices fall.
via Reuters 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.