Russia and Opec to meet, page-4

Saudi Arabia wants to cooperate with other oil producers to support the oil market, Saudi-owned Al Arabiya television reported on Sunday, quoting an unnamed Saudi source.

The source also told the Dubai-based satellite channel that the kingdom was not the source of a proposal to cut production that Russia was studying.

Russia said on Thursday that OPEC had proposed oil production cuts of up to 5 percent in what would be the first global deal in over a decade to help reduce a glut of crude and prop up sinking prices.

Russian Energy Minister Alexander Novak also told reporters that there was a proposal of a meeting between Organization of the Petroleum Exporting Countries (OPEC) members and non-OPEC countries, and that Russia was ready for the meeting.


http://www.cnbc.com/2016/01/31/saud...idnt-propose-production-cut-says-arabiya.html

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