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Oil prices reversed on Thursday afternoon, after experiencing a new descent earlier today.
Brent is currently up 1.1% to 59.70 dollars, while WTI oil has risen 1.5% to 51.02 dollars.
The recovery is likely related to a Reuters remark that Russia is increasingly convinced to cut production with OPEC.
The country will talk with Saudi Arabia about timing and volume, informing the news agency of sources in the sector.
The Russian Energy Department on Tuesday met with leaders of the country's largest oil producers, ahead of the OPEC meeting in Vienna next week.
Russia is on the point
"The idea of the meeting was that Russia had to cut in. The central question is how fast and how much," says one of the sources.
"Most people have agreed that we can not cut immediately, but there must be a gradual process like the last time," he said, who asked not to be identified.
The ministry declined to comment on the case with Reuters. Rosneft and Gazprom Neft did the same.
Lukoil, Tatneft, Surgutneftegas, Gazprom and Novatek have not yet responded to inquiries from the news agency.
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