"In general, of course, during the meeting both sides noted that the volatile oil prices do not meet the interests of the two countries and that, of course, the states should coordinate efforts in order to encourage prices to rise," Peskov said, answering a question about the outcome of the meeting between the two leaders.
Peskov added that there were many factors that had impacted on the global oil prices that should be taken into account when coordinating joint efforts.
Due to oversupply in the global market, oil prices have more than halved since summer 2014, when the price of Brent crude stood at about $115 per barrel. Crude prices are now hovering at about $50 per barrel.
The oil-dependent economies of Venezuela and Russia have been hit by the plummeting prices.
