Foreign news on May 26, three sources familiar with Russia's current thinking said that Russia is inclined to keep oil production unchanged before the OPEC policy meeting on June 4 because Moscow is satisfied with current prices and production.
On April 2, OPEC unexpectedly announced further production cuts, which pushed up oil prices.
Russian President Vladimir Putin said on Wednesday that energy prices were approaching "economically reasonable" levels.
Putin's oil chief, Deputy Prime Minister Novak, said on Thursday he did not expect new measures from OPEC.
Russia and its OPEC partners will decide what is best for the oil market when they meet in Vienna, Novak said.
By supporting current production levels, Moscow hopes to keep oil prices stable without exceeding the Western price cap of $60 a barrel for its Ural Blend crude.
A source familiar with Russia's position said that "further cuts are unlikely."
Another source, speaking on condition of anonymity, said it was not in Russia's interest to cut production at the moment.
Russia has pledged to cut production by 500,000 bpd to 9.5 million bpd from March until the end of the year.
A source from a Russian oil major said: "Russia has little to do with the promised production cuts, and in the current market environment, additional cuts are not needed."
Russia is the world's second-biggest oil exporter after Saudi Arabia, and Saudi Energy Minister Prince bin Salman this week warned short sellers to be "careful".
West-imposed price caps on Russian crude complicate Moscow's production calculations -- unlike other OPEC members, Russia does not seek to maximize prices.
If Russia can keep the price of Urals below the price ceiling, it will be easier to ensure the continued flow of its crude oil to global markets.
Urals crude has traded between $53-$57 a barrel this month, a more comfortable range for Russia.
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