Russia plans no joint action with OPEC - sources
By Denis Pinchuk and Margarita Papchenkova
MOSCOW Jan 27 (Reuters) - Russia's government is not discussing cooperation with OPEC, two senior Russian officials told Reuters, after a co-owner of the country's No. 2 oil producer Lukoil said Moscow and the exporter group should join forces to battle low oil prices.
The comments from Lukoil co-owner Leonid Fedun contradicted a long-standing stance by Russian officials that if Russia bowed to any OPEC request to cut production jointly, the country would lose market share.
The two senior officials, who are familiar with the matter, said Fedun's comments were his personal opinion, not agreed to or supported by Energy Minister Alexander Novak or others in the industry.
"There are not any measures on possibly cutting production being discussed now. Neither Fedun, nor Lukoil offered anyone anything," one of the sources said.
Another official, who spoke on condition of anonymity because of the sensitivity of the matter, also said Fedun was voicing his own opinion. "It is impossible to coordinate the process and stop production in Russia," the second source said.
Oil prices have fallen close to $31 per barrel from around $115 in the middle of 2014, causing problems for Russia's cash-strapped budget and pushing the Russian economy into recession. Continuación...