Russia is ready to strike a deal to help boost global oil prices, the country's deputy prime minister told CNBC.
"We are ready to sign to have a deal," Arkady Dvorkovich told CNBC in Italy at the Ambrosetti Forum on economics.
Major oil-producing countries will meet in Algiers this month to discuss market conditions. OPEC member countries, plus Russia, are expected to hold discussion on the sidelines about the possibility of an output freeze to boost prices.
Hopes of a deal have fallen through in the past, in particular because Saudi Arabia — OPEC's de facto leader — remains wedded to keeping output high to hold market share.
However, Dvorkovich suggested that with oil prices still low, Saudi Arabia may yet change its mind.