Oil prices slipped Friday, as Russia said it would wait for details of OPEC’s surprise agreement to cut crude output before deciding on any changes to its own production.
The Organization of the Petroleum Exporting Countries — of which Russia is not a member — agreed this week to cut production by some 750,000 barrels a day in a move aimed at supporting prices.
“During October and November the OPEC countries will work out the specific parameters of their proposal,” Russian news agency Interfax quoted Energy Minister Alexander Novak as saying.
“We are talking about maintaining levels at volumes that have been reached, but it is still being discussed at what level,” Novak said, insisting he “would not comment on specific levels”.
Source: AFP
