Putin Says Russia Ready to Join OPEC Effort to Limit Oil Supply
- Freeze or cuts are ‘only proper decision’ for current market
- Russia calls on other oil exporters to also limit production
Putin: Russia Is Ready to Freeze or Cut Oil Production
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Russia, the world’s largest energy exporter, is ready to join OPEC in limiting oil production with either a freeze or a cut, said President Vladimir Putin.
“Russia is ready to join in joint measures to limit output and calls on other oil exporters to do the same,” Putin said on Monday at the World Energy Congress in Istanbul. “In the current situation, we think that a freeze or even a cut in oil production is probably the only proper decision to preserve stability in the global energy market.”