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Russia Open to Cooperation With OPEC, Minister Tells Al-Awsat

  • Oil market won’t balance before 2017, Novak says in interview
  • UBS, Commerzbank signal skepticism that producers can agree

Russia is open for talks with other major oil producers on freezing output as the market is unlikely to balance until next year, Energy Minister Alexander Novak said in an interview with Asharq Al-Awsat.

The country is committed to continuing dialogue to stabilize the market, Novak said, according to the Saudi-owned newspaper.