Russian oil Russia’s state-controlled giant Rosneft will not freeze its production as part of potential non-OPEC and OPEC global efforts to prop up crude prices, Reuters quoted Rosneft’s chief executive Igor Sechin as saying , just after Russian President Vladimir Putin had stated that his country was ready to join OPEC’s attempts to rebalance the market. Russia is denying the change of heart, saying that Sechin’s words to the contrary “may be quoted out of context” , Russian TASS agency reported on Tuesday, quoting Dmitry Peskov, press secretary of the Russian President. “Indeed, the official position was presented by President Vladimir Putin that it is desirable to freeze volumes or contract them,” Peskov said. As quoted by Reuters earlier today, Sechin – when asked if Rosneft might limit its production – said late on Monday, “Why should we do it?” “Try to answer this question yourself: would Iran, Saudi […]