Russia, OPEC Members to Meet Before Nov. 30 Meeting

Russia’s energy officials will attend talks with OPEC countries in Vienna on November 26-28 ahead of the OPEC ordinary meeting, Energy Minister Alexander Novak told reporters on Saturday. "One should move ahead step by step. The next stage is November 26-28 when experts will come together again before the OPEC meeting scheduled for November 30 to look through the figures once more," Novak said, Russian news agency TASS reported. OPEC agreed on Sept. 28 to reduce output to a range of 32.5 million to 33 million barrels a day. The accord has helped push oil prices to around $50 a barrel earlier this month. A committee of OPEC experts and governors met in Vienna last month to discuss how much each member should cut. The expert meetings are also set to be held before the official gathering of OPEC ministers on Nov. 30. Russian officials have said the country's oil companies are ready to freeze output if the 14-member group reaches an understanding on curbing supplies.