Reuters with comments from the Russian energy minister

  • Planning to meet OPEC sec gen Wednesday
  • Expects clarification from OPEC on its further steps in stabilising the oil market
  • Is discussing possible output freeze with Russian oil companies
  • Possible decision on Russian output freeze to depend on OPEC decisions
  • If OPEC proposes for Russia to cut output, Moscow would consider
  • Russia prefers a freeze rather than a cut

Brent trades up near the day's highs at 51.75.

Turkey hosts the 23rd World Energy Congress which starts today through to Thursday so expect more of the same ramblings we did during the Algeria conference last month.