May 31, 2017 / 7:41 AM / 4 months ago

Russia wants continued cooperation with OPEC, non-OPEC after oil cut deal expires

Russian Energy Minister Alexander Novak and Saudi Arabian Energy Minister Khalid al-Falih shake hands ahead of a meeting in Moscow, Russia, May 31, 2017. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Russia needs to work out new principles jointly with OPEC and non-OPEC nations to continue cooperation even after the current oil output cut deal expires, Russian Energy Minister Alexander Novak said on Wednesday.

“It is necessary to work out new framework principles for continued steady cooperation between OPEC and non-OPEC even after the expiration of the Vienna agreements,” Novak told an energy conference with OPEC held in Moscow.

Reporting by Dmitry Zhdannikov; Writing by Dmitry Solovyov; Editing by Andrey Ostroukh

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