17:18 GMT21 April 2021
Listen Live
    Get short URL
    0 85

    Vladimir Putin said that Russia is ready to support the Organization of the Petroleum Exporting Countries' (OPEC) agreement to free and possibly cut oil production.

    ISTANBUL (Sputnik) Russia is ready to support the Organization of the Petroleum Exporting Countries' (OPEC) agreement to free and possibly cut oil production, President Vladimir Putin said Monday.

    "Russia is ready to join the joint measures to limit production, and encourages other oil exporting countries to do so," Putin said at the World Energy Congress in Istanbul.

    He said that a freeze and a cap is "perhaps the only right thing to do to preserve the stability of global energy."

    "This will not interfere with the work of market mechanisms. On the contrary, it will accelerate market rebalancing," Putin stressed.


    OPEC Output Freeze Deal Drives Russian Ruble to New Record High
    Oil Prices Top $50 Per Barrel After OPEC Output Freeze Deal
    'Oil Price Wars' Likely to End During Next 12 Months Amid OPEC Deal
    Oil, OPEC, Vladimir Putin, Russia
    Community standardsDiscussion