Here are the statements:
Russian Energy Minister Alexander Novak said on Thursday that Saudi Arabia had proposed to cut oil production by up to 5 percent by each country in order to support weak oil prices.
Novak also told reporters that there was a proposal of a meeting between OPEC and non-OPEC countries on the level of oil ministers and that Russia was ready for the meeting.
Oil markets rallied on the news, with Brent crude rising 5.5 percent.
This story is developing. Please check back for further updates.
Click here for the latest on the markets.
—CNBC.com contributed to this report
Russia slowly making moves, page-3
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