So says energy min Novak 22 Sept

  • not talked about a 5% output cut
  • there is only a proposal to freeze output
  • hopes for constructive talks in Algeria

The comments denying 5% output cut talk come after his deputy was reported as saying that Russian could "in theory" cut output by that amount.

OPEC and non-OPEC producers meet in Algeria 26-28 Sept.

Oil trading tightly after yesterday's post-FOMC rally.