Russian Companies Back Talks With OPEC on Oil

January 27, 2016 5:28 PM

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The head of Russian state oil pipeline monopoly Transneft says talks on output cuts are planned with Saudi Arabia and OPEC.

Transneft head Nikolai Tokarev said that Saudi Arabia had "taken the initiative and come out with a proposal to discuss the possibility of reducing volumes," in comments reported by Russian news agency RIA Novosti.

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