Russia says will be able to freeze oil output in case of deal with OPEC

September 30, 2016 8:06 AM EDT

Russian Energy Minister Alexander Novak speaks during a signing ceremony with Iranian Communications Minister Mahmoud Vaezi (not seen) after their meeting in Moscow, Russia, July 29, 2016. REUTERS/Maxim Zmeyev


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SOCHI, Russia (Reuters) - Russia will find mechanisms and instruments needed to freeze oil production should the country reach an agreement with the Organization of the Petroleum Exporting Countries on limiting output, the Russian Energy Minister said on Friday.

Alexander Novak also told journalists on the sidelines of a business forum in the Black Sea resort of Sochi that Iran's energy ministry's delegation will visit Russia in October-November to present potential oil deals to Russian companies.

Novak also reiterated that he is against increasing tax burden on the oil sector.

(Reporting by Denis Pinchuk; Writing by Lidia Kelly; Editing by Dmitry Solovyov)



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