The Kremlin is on board with efforts made by OPEC to stabilize market prices, but such efforts should be temporary, the Russian energy minister said. Referencing an interview in the Arab-language Ahsarq al-Awsat, Russian Energy Minister Alexander Novak was quoted by Russian news agency Tass as saying the door is open to multilateral efforts to stimulate the market should such a need arise. “Speculators noted that producing countries may reach an agreement,” he said. Novak met in early 2016 with his counterparts from Qatar, Saudi Arabia and Venezuela to consider production arrangements. He said in April he was “optimistic” that major producers would agree to hold output steady at January levels. When the proposal dissolved in June, Novak said he expected members of […]