Russia's Novak says considering additional oil export cuts of about 50,000 bpd in December

<p>Russian Deputy PM Novak was quoted by Russia's three main news agencies over the weekend. Said Russia would deepen cuts beyond the 300,000 barrels per day of cuts already agreed for this year</p><ul><li>"In December we will add additional (cuts)… By how much, we'll see based on the results of December – there may be an additional 50,000 bpd, maybe more."</li></ul><p>On gas export to China, said he hoped Gazprom and CNPC (Chinese producer) could soon agree on the contract conditions for gas sales through the Power of Siberia-2 pipeline.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.