Russia hopes possible global oil deal to stabilize crude prices

October 25, 2016 5:15 AM EDT

Russian Deputy Prime Minister Arkady Dvorkovich talks to journalists at the St. Petersburg International Economic Forum 2016 (SPIEF 2016) in St. Petersburg, Russia, June 17, 2016. REUTERS/Sergei Karpukhin


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TAZOVSKY, Russia (Reuters) - A possible agreement among global leading oil producers on capping crude output would help to stabilize global oil prices, Russian Deputy Prime Minister Arkady Dvorkovich said on Tuesday.

Dvorkovich, who oversaw the launch of an oilfield owned by Russia's second-largest oil company Lukoil, also said the much-anticipated deal between the Organization of the Petroleum Exporting Countries and other leading oil producers would help Russia to maintain stable crude output in the future.

Last month OPEC approved modest output cuts that are due to be set in stone in the coming weeks. The goal is to trim global production to a range of 32.50-33.0 million barrels per day (bpd).

(Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin; Editing by Andrey Ostroukh)



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