Russia intends to cooperate with the Organization of Petroleum Exporting Countries, or OPEC, but will keep its own position on issues relating to oil production volumes, the Interfax news agency reported Wednesday citing the country's Deputy Prime Minister Igor Sechin.
"Russia will have its own stance. Russia is currently a leading oil producer and it has a right to determine its own position. Of course, we will work with everyone working in the oil and gas industry in the world," Sechin said.
"We need to work effectively. We need to try to work to avoid losses, and that is probably the main thing," he added.
The comment comes a week after Leonid Fedun, Deputy Chief Executive of the country's second biggest oil producer OAO Lukoil (LKOH.RS) called on the government to consider joining OPEC.
Russia is the second largest crude producer in the world with a daily output of around 9.82 million barrels.