OPEC production cap would see modest cuts
VIENNA, Oct 24 (Reuters) – Russia’s energy minister said on Monday he was confident his country would reach an agreement with the Organization of the Petroleum Exporting countries to cooperate on oil markets after the proposed OPEC production cap was announced.
Russian Energy Minister Alexander Novak told a joint news conference after a meeting with OPEC Secretary General Mohammed Barkindo that both sides had discussed the issue and he was confident they would bear fruit.
The talks in Vienna were aimed discussing coordination on oil markets after OPEC last month agreed modest oil output cuts. OPEC’s goal is to cut production to a range of 32.50-33.0 million barrels per day.
(Reporting by Katya Golubkova; writing by Francois Murphy. Editing by Jane Merriman)
