Reuters reporting comments from the Russian energy minister
- plans to meet Saudi Arabia officials at end-Oct
- sees good chance for Russia to return to Iran
Elsewhere the Russian economy minister, Alexei Ulyukayev, has this to say:
- proposal to keep oil export duty mechanism unchanged for 2016 should not affect oil output
No immediate impact on oil price but one to file and refer to. Energy minister says:
- fin min proposal could lead to oil output falling by 7-8T in 2016
Ulukayev adds:
- sees GDP falling by 3.9% in 2015, rise by 0.7% in 2016
- industrial output falling 3.3-3.4% in 2015
- capex falling 9.9% in 2015
- retail sales rising by 8.1%
- net capital outflow at $80bln in 2016