Russia Could Work With OPEC on Supply, Lukoil's Fedun Tells Tass

Russia could work with the Organization of Petroleum Exporting Countries on removing supply from the market if a political decision was taken to cooperate, OAO Lukoil Vice President Leonid Fedun said in an interview with state news agency Tass.

At current prices, it makes more sense to preserve oil fields at optimum working levels than to push Russian output to new records, Fedun said. He didn’t specify how Russia should work with OPEC.