Russia's oil minister Novak
- Says Saudis proposed each country cut production by 5%
- Russia is prepared to meet in any format
- OPEC and other producers to meet in Feb on a minister level
We've had a lot of toing and froing over the last few days but this is the first time we've had some sort of confirmation that people are trying to get a meeting up and running. It's also the first time we've heard of numbers being bandied about
Brent has added on a buck to 34.75 on this news
There's a big risk that this Saudi comment gets denied so be wary
