September 25, 2016 / 2:02 PM / in a year

Russia says reaching oil output freeze deal not critical: RIA

Russian Energy Minister Alexander Novak speaks during a signing ceremony with Iranian Communications Minister Mahmoud Vaezi (not seen) after their meeting in Moscow, Russia, July 29, 2016. REUTERS/Maxim Zmeyev

MOSCOW (Reuters) - Reaching an agreement to stabilize global oil prices, including a possible deal to freeze output, is “non-critical” for Russia, its Energy Minister Alexander Novak was quoted by Russian news agencies as saying on Sunday.

“For us, in principle, it’s non-critical, but we believe that the process of market rebalancing could be advanced. It’s beneficial for all,” RIA quoted Novak as saying.

Members of the Organization of the Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum in Algeria from Sept. 26-28, where they will discuss a possible output-limiting deal.

Reporting by Maria Kiselyova; Editing by Mark Potter

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