Russia committed to oil output cuts

Russia is committed to its pledges on oil output cuts, Energy Minister Alexander Novak said on Monday, after criticism from Saudi Arabia.

Last week, Saudi Energy Minister Khalid al-Falih said Russia was cutting its oil production more slowly than expected.

Novak also said he would meet his Saudi counterpart in Davos later this week if Falih attends the world economic forum in the Swiss resort. “It depends on his schedule,” Novak told reporters.

Source: Reuters (Reporting by Alissa de Carbonnel; Writing by Vladimir Soldatkin; Editing by Susan Fenton)