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Russia says oil output cut deal unlikely to be altered if prices fall
June 2, 2017 / 6:01 AM / in 5 months

Russia says oil output cut deal unlikely to be altered if prices fall

Russian Deputy Prime Minister Arkady Dvorkovich waits before an annual state of the nation address attended by Russian President Vladimir Putin at the Kremlin in Moscow, Russia, December 1, 2016. REUTERS/Maxim Shemetov

ST PETERSBURG, Russia (Reuters) - Russian Deputy Prime Minister Arkady Dvorkovich said on Friday he did not believe that the global output cut agreement would be altered if prices for the commodity tumbled.

“If prices go down, I don’t think we’ll adjust the deal,” Dvorkovich told Reuters on the sidelines of the St Petersburg International Economic Forum.

Russia and 10 other non-OPEC nations agreed last December to join OPEC output cuts for the first time in 15 years. Last week, the Organization of the Petroleum Exporting Countries and non-OPEC producers agreed to extend the curbs by nine months to March 2018.

Reporting by Polina Nikolskaya and Gleb Stolyarov; writing by Maria Kiselyova; editing by Dmitry Solovyov

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