Russian oil minister Alexander Novak appears unenthusiastic about an attempt to revive a co-ordinated output freeze, or other market interventions by Opec and non-Opec oil producers. Russia is ready to consider a “most broad” co-operation to stabilise oil markets and to take part in developing joint actions, but only if they provide a long-term return on projects, Novak says. He is not formally rul- ing out a freeze. “The door to continue negotiations remains open,” Novak says. Opec ministers are planning an informal meeting on the sidelines of the Inter- national Energy Forum summit in Algiers on 26-28 September, which will also be attended by leading non-Opec producer countries, including Russia.
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