May 25, 2017 / 10:13 AM / 4 months ago

Russia finance minister says supports global oil output cut deal

MOSCOW (Reuters) - Russian Finance Minister Anton Siluanov said on Thursday he would support an extension of a global oil output cut deal as it should help Russia to replenish reserves.

“The extension of the agreement is aimed at supporting and stabilising oil prices at current levels, which should positively impact balances of payments of oil-producing countries,” Siluanov said.

His ministry is planning to use favourable crude prices to build up reserves in order to withstand possible oil market volatility in the future, Siluanov said.

Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh; Editing by Dmitry Solovyov

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