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Russia ready to join decision to limit crude production — Putin

Russia ready to join decision to limit crude production — Putin

International Energy Agency: This year global oil demand is forecast to be 97.8 million barrels (19 January 2017 18:46)
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Azeri Light crude sells for $55.93 (17 January 2017 10:46)

Date: 10 October 2016 18:46

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Baku, October 10, AZERTAC

Russia is ready to join the decision on freeze or reduction of crude production, which is important for keeping stability on the oil market, President Vladimir Putin said at the World Energy Congress in Istanbul on Monday, according to TASS.

"In the current situation we consider the freeze or even reduction of crude production to be probably the only correct decision to keep the sustainability of the whole global energy (market)," Putin said, adding that the move will help the market to regain equilibrium.

"Russia is ready to join the joint efforts to limit (crude) production and urges other oil exporters to do the same," he said, adding that he hopes the OPEC meeting in November will result in "certain agreements."


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