Front futures now up 91 cents at $32.36.
Russia's Transneft says Moscow, OPEC to discuss output cuts: agencies
Russian state oil pipeline monopoly Transneft said on Wednesday Russia and the Organisation of the Petroleum Exporting Countries (OPEC) would discuss possible output cuts, TASS news agency reported.Recently:
RIA news agency also cited Transneft Chief Executive Nikolai Tokarev as saying a meeting at the Russian Energy Ministry had discussed possible talks with Saudi Arabia on oil.
Senior Russian officials told Reuters earlier on Wednesday Russia's government is not discussing cooperation with OPEC, after a co-owner of the country's No. 2 oil producer Lukoil said Moscow and the exporter group should join forces to battle low oil prices.
Oil: As Ruble Collapses, And Despite Tough Talk, Russia Signals It May Consider Working With OPEC To Cut Production