MOSCOW (Sputnik) – Russia is leaning toward a six-month extension to an agreement among major producers to cut oil production, Energy Minister Alexander Novak said Thursday.
"We are now holding final negotiations on this subject with our partners and are leaning toward the expediency of an extension," Novak told reporters.
Russia is part of the so-called Vienna Agreement, establishing a 1.2 million-barrels-per-day output cut from January until June, with a pledge to reduce oil production by 300,000 bpd per day.
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