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Russia to keep oil output steady, price will stabilise: minister

It is mirroring Opec's strategy of not curbing production to tackle global surplus

Brent, the global benchmark, has fallen almost 50 per cent since the end of 2013, contributing to a currency crisis in Russia, which relies on energy for half its budget.


RUSSIA will keep its crude oil output steady next year and plunging prices will stabilise, Energy Minister Alexander Novak said, reiterating comments made almost three weeks ago that the nation won't adjust supply to halt a rout.

The world's largest crude producer's output