You are here: Home » Reuters » News
Business Standard

Russia's Putin says no hard figures on possible oil output cuts

Reuters  |  BUENOS AIRES 

(Reuters) - Russian said on Saturday he had no concrete figures on possible oil output cuts, though his country would continue with its contribution to reducing global production.

Russia, one of the world's crude producing nations, has been bargaining with OPEC's leader, Saudi Arabia, over the timing and volume of any reduction. OPEC and non-OPEC will hold a ministerial meeting Dec. 6-7.

"Yes, we have an agreement to prolong our accords," Putin told reporters on the sidelines of the summit in "There is no final deal on volumes but we together with will do it. And whatever is the final figure, we agreed to monitor the market situation and react to it quickly."

OPEC and its allies will be meeting amid concerns over a slowing global economy and rising from the

had their weakest month in more than 10 years in November, losing more than 20 percent as global supply has outstripped demand. Losses were limited on Friday, however, on hopes of a production cut agreement.

(Reporting by Vladimir Soldatkin; Writing by Hugh Bronstein; Editing by and Will Dunham)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, December 02 2018. 15:09 IST