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    Russian President Vladimir Putin greets media members upon his arrival at Ataturk International airport in Istanbul, Turkey, October 10, 2016

    Russia Ready to Support OPEC's Oil Output Freeze, Possible Cuts - Putin

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    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.

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    Oil, OPEC, Vladimir Putin, Russia
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