During the OPEC session in Vienna a deputy prime minister Igor Sechin, as representative of Russia, has proposed establishing regular energy dialogue to improve global energy security and has drawn up a relevant memorandum.
"We are putting forward an initiative to establish regular energy dialogue between Russia and OPEC, the main goal of which will be to contribute to providing sustainable stability on the oil market in the interests of all participants."
OPEC's 13 member states are Algeria, Angola, Venezuela, Indonesia, Iran, Iraq, Qatar, Kuwait, Libya, Nigeria, the UAE, Saudi Arabia and Ecuador. The countries account for around 67% of global proven oil reserves and 42% of global oil output.
Russia's daily oil output stands at around 10 million barrels, close to the level produced by Saudi Arabia.
