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    Russia's Strategy Presupposes Keeping Current Oil Production Levels – Novak

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    Russian strategy aimed at stabilizing oil markets presupposes keeping current oil production levels, Russian Energy Minister Alexander Novak said Tuesday.

    ALGIERS (Sputnik) – In April, major oil-producing states failed to reach an output-freezing agreement in Doha, Qatar. Saudi Arabia, which had previously said that it would freeze output only if Iran followed suit, cited Tehran’s absence from the talks as the reason for not supporting an output freeze.

    "We are ready and our strategy presupposes keeping [oil] production levels," Novak told journalists in Algeria, where he is taking part in the International Energy Forum (IEF) taking place on September 26-28.

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    oil output, Alexander Novak, Russia
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