June 13, 2018 / 9:48 AM / 2 months ago

Russia to propose oil exporters raise output in line with quotas: Ifax

MOSCOW (Reuters) - Russia will propose to all the participants of a global deal on oil production that each exporter increases output in proportion with their quotas, Interfax news agency quoted an unnamed Russian government source as saying.

“Russia will propose to all the participants that they raise output proportionately, that is spread among all of them, to an extent sufficient to cancel out the potential overheating of the market,” Interfax quoted the source as saying.

Russia will submit the proposal at a June 23 meeting of the OPEC+ monitoring committee in Vienna, the agency quoted the source as saying.

Reporting by Maria Kiselyova; Writing by Christian Lowe; Editing by Louise Heavens

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