UFA: Russia will produce 548 million tons (11 million barrels per day) of oil next year, a post-Soviet record, Energy Minister Alexander Novak said.

But he said Russia still wants global producers to curb production amid weak prices.

Russia, a leading oil producer, expects OPEC to find common ground on capping oil production. OPEC is to hold its regular meeting in Vienna on Nov.30.

Before that, Novak will make several trips, including to Saudi Arabia this weekend and to Vienna next week.

He said he would take “some” proposals to a meeting with his Saudi counterpart Khalid Al-Falih and he believed an oil output freeze was still necessary.

He declined to provide any further details on the proposals.

Asked about the need for an oil output freeze, he said: “Yes, this is our main position, it has not changed.” Novak said that he will discuss coordination on oil markets with OPEC Secretary General Mohammed Barkindo.

Russian President Vladimir Putin has said that Russia will join leading global oil producers in curbing production.

Russia’s output jumped by almost 4 percent in September from the previous month to 11.11 million barrels per day, setting a new post-Soviet record-high, as companies ramped up drilling amid improved oil prices.

Russian officials have said that Moscow would rather freeze oil output than cut, but the level is yet to be agreed. Top Russian oil companies such as Rosneft, Gazprom Neft and Lukoil are launching new fields in 2016.

According to Rosneft CEO Igor Sechin, Russia has the potential to further increase oil output by up to 200 million tons a year, or 4 million barels per day.

The Organization of the Petroleum Exporting Countries will hold a meeting on Nov. 30 to find common ground on capping output. This is expected to work out how each member country will contribute to a freeze.

“Supply cut discussions have stabilized the prices above $50 a barrel. What we see now is somewhat consolidating in a wait-and-see mood,” said Frank Klumpp, oil analyst at Stuttgart-based Landesbank Baden-Wuerttemberg.

Oil-producing countries are hoping for higher crude prices to boost their economies.

Oil prices fell on Friday. Global benchmark Brent crude futures were down 7 cents at $51.31 a barrel at 1337 GMT.

US West Texas Intermediate (WTI) crude was trading at $50.33 a barrel, down 30 cents from its last settlement.

Prices defied initial bullishness fed by Russian comments reiterating its commitment to joining a producers’ output freeze.

Nigeria’s finance minister said he hoped oil prices would stabilize in a range of $42-$50 a barrel.