Russia is calling on oil producers around the world to refrain from increasing output, Energy Minister Alexander Novak said on Friday, according to Russian news agencies, just days before he is due to meet officials from OPEC. The Russian economy has been hit hard by lower oil prices, which have almost halved from a peak in June last year of $115 per barrel. Oil and gas sales account for around half or Russia’s state budget revenues. “We call for all countries to keep their output unchanged,” Novak was quoted as saying by TASS news agency. Several other local media outlets also reported his call to global oil producers. The Russian minister is due to hold talks with some officials from the Organization of the Petroleum Exporting Countries (OPEC) next month in Vienna, just before the group’s meeting on Jun.5. Russia is not a member of OPEC, and Novak […]