Russia is ready to discuss coordination on oil market at the informal meeting of oil producers in Algeria and expects the OPEC will have a meaningful position, Energy Minister Alexander Novak told TASS on Wednesday.

“We expect the constructive dialog inside the OPEC in the first instance. Irrespective of the decision to be taken in the OPEC, we always state our position that Russia is ready to interact with other producers on the oil market. We would like to stress once again we are ready to discuss coordination and interaction on markets,” the Minister said.

Negotiations of oil producing nations are planned within the framework of the International Energy Forum in Algeria, Novak added.

“There is an informal understanding to separately discuss the situation related to oil markets. I think it will be an informal meeting within the framework of the International Energy Forum; we will find time in-situ to hold a meeting from September 26 to 28,” the Minister said.