11 Oct 2016 19:06

Novak: oil production freeze should be for 6 mths with option to extend

ISTANBUL. Oct 11 (Interfax) - The oil production freeze should be in effect for a six-month period, Energy Minister Alexander Novak told journalists.

The agreement should also provide an option for extending the freeze, Novak said.

"In my view, it would be feasible to have a six-month period, because a year is quite a long time during which there could be volatility and influence from some factors of an individual and rare nature. Therefore, in my view, it should be six months with a possibility of extension if necessary. During this period we could monitor the situation and make decisions already during that period," the minister said.