Oil Prices and News

Russia says govt will not order oil companies to cut output: RIA

A worker checks the valve of an oil pipe at an oil field owned by Bashneft company near Nikolo-Berezovka, Bashkortostan, Russia.
Sergei Karpukhin | Reuters

Russia's government will not order Russian oil companies to cut output as part of a deal with OPEC, RIA News agency cited Deputy Prime Minister Arkady Dvorkovich as saying on Thursday.


"We have no such authority in the government. We don't have any kind of international agreement which would give such a possibility," RIA quoted Dvorkovich as saying.

Russia's oil companies support energy ministry proposals to cap oil output as part of a global deal, a ministry spokeswoman said on Wednesday.