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Russian oil groups agree to freeze output: Putin
Moscow (AFP) – Russian oil groups have agreed to freeze production levels as proposed last month by Moscow and Saudi Arabia to curb a near-record slump in prices, President Vladimir Putin said Tuesday.
Opening a meeting with oil group chiefs, he said Energy Minister Alexander Novak had led discussions on forging an agreement between producer countries to maintain their output.
“As the minister reported to me, you all agree with this proposal,” Putin told them in comments released by the Kremlin, adding: “There are even more radical proposals but you don't all agree.”
He said the idea was to “fix Russia's 2016 production level at that of January,” which was a post-Soviet record of 10.8 million barrels per day on average …. http://finance.yahoo.com
Source: http://luismmx.blogspot.com/2016/03/russian-oil-groups-agree-to-freeze.html
