Sunday, November 20, 2016

'We are ready to freeze oil production' - Putin on OPEC & oil output

Asked about Russia’s stance on limiting oil output, Putin reiterated that Moscow will support a decision to cap oil production.

“As far as the upcoming OPEC meeting is concerned and our position, it remains unchanged and we have said it many times already: We are ready to freeze oil production at the level, at which it is now,” Putin said.

“I cannot say with 100 percent certainty if the agreement [to freeze oil production] will be reached, but there is a huge possibility,” Putin said, stressing that Russia “will, for its part, do everything what our OPEC partners expect from us to do.” ....