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【Russia may suggest oil output cut of 15 mln T in 2015】

Date:2014-11-28 | Read(3691)

MOSCOW Nov 24 (Reuters) - Russia may suggest cutting its oil production by around 15 million tonnes a year (300,000 barrels per day) and expects OPEC to limit its output as well, Kommersant daily newspaper said, citing sources.

Before OPEC meets later this week in Vienna, Russia has spoken to members Venezuela and Saudi Arabia about the need to support the oil market and hopes to press its message on the need for higher prices in Vienna on Nov.25.

Russian Energy Minister Alexander Novak said last week Moscow was looking at the option of cutting its oil production, the world's largest, but said the measure had yet to be agreed.

Quoting sources close to the government, Kommersant said that Russia may offer a cut of 15 million tonnes next year. At the same time, Russia and Venezuela may suggest that OPEC should limit its output by another 70 million tonnes.

Russia's Energy Ministry declined to comment.