14:29 GMT02 March 2021
Listen Live
    Politics
    Get short URL
    0 42
    Subscribe

    According to the Kremlin spokesman, Russia will be ready to coordinate actions in limiting oil output with market players if OPEC member states reach that agreement.

    MOSCOW (Sputnik) — Russia will be ready to coordinate actions in limiting oil output with market players if OPEC member states reach that agreement on November 30, Kremlin spokesman Dmitry Peskov said Tuesday.

    "First we need to wait for the meeting, and if the meeting's participants themselves reach the appropriate understanding, then Russia will accordingly be ready to coordinate actions," Peskov told reporters.

    On September 28, the OPEC member states reached an agreement on the sidelines of an international energy forum in Algeria. The output ceiling was set at 32.5-33 million barrels a day for the whole cartel. OPEC also decided to establish a technical committee to identify the production volume of individuals member countries. The date of the oil output freeze is expected to be presented at the cartel's upcoming meeting in November.

    Putin said at the World Energy Congress in Istanbul on Monday that Russia was ready to freeze and possibly cut oil production following that agreement.

    Related:

    Oil Prices Jump to 15 Month High After Putin Vows Russia to Join OPEC Supply Cap
    Hillary Tells Big Oil That Environmentalism is a Russian Hoax to Wreck Economy
    Bulgarian Anti-Trust Commission Accuses 6 Oil Firms of Colluding to Fix Prices
    Tags:
    oil, OPEC, Dmitry Peskov, Russia
    Community standardsDiscussion