"The next session will take place in Moscow next year. Or maybe some other city, we shall determine this additionally depending on our colleagues’ wishes. The next topics of discussion for us will be the influence of the changes taking place on the markets today, including price consequences, investments in the oil sector, analysis of attracting financing and investment in conditions of different taxation systems in different countries," Novak said.
OPEC agreed in late September to cut its oil production for the first time in eight years. The output ceiling was set at 32.5-33 million barrels a day for the whole cartel. Further details of the deal are due to be unveiled at the group’s meeting in November.
Russia, which is among the world’s leading oil producers, however not a member of OPEC, expressed its will to uphold the agreement.
The September agreement was reached against the backdrop of decline in oil prices, which have dropped from some $110 a barrel to values below $50 since mid-2014.