Russia sees no grounds for new talks on oil output freeze yet

August 8, 2016 2:41 AM EDT

A worker looks at a pump jack at an oil field Buzovyazovskoye owned by Bashneft company north from Ufa, Bashkortostan, Russia, July 11, 2015. REUTERS/Sergei Karpukhin/File Photo


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MOSCOW (Reuters) - Russia, the world's top oil producer, sees no grounds for new talks on freezing oil production yet but is open to negotiations, Energy Minister Alexander Novak said on Monday.

He told reporters: "If other countries raise the issue of a freeze, we are ready to discuss this."

"But the position of Russia is that the prerequisites for this have not yet come to pass, considering that prices are still at a more or less normal level."

Novak added that talks on freezing output could possibly happen if prices fall.

(Reporting by Olesya Astakhova; Writing by Katya Golubkova; Editing by Alexander Winning)



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