Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

No Plans to Join OPEC

CARACAS, Venezuela — Energy Minister Alexander Gavrin said Tuesday that Russia has no plans to join the Organization of Petroleum Exporting Countries.

Speaking at a news conference following his arrival at OPEC’s first summit in 25 years, Gavrin said the nation was happy with its relationship with the cartel.

"There are no tempting offers that we have received," he said.

However, Gavrin stressed that it was important for oil producing countries that aren’t members to support OPEC.

Gavrin said Russia brought a technical team to the summit, but he didn’t elaborate. In 1999, Russia produced 6.14 million barrels of oil per day. In 2000, its output is projected to reach 6.28 million barrels per day.