Putin Echoes Trump’s Call for Oil Producers to Cut Output
- Russian leader says production limits must be shared fairly
- Russia comfortable with price of $42 a barrel, Putin says
Oil storage tanks at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co in Tuapse, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russian President Vladimir Putin said his country is prepared to take part in deep cuts in oil production together with Saudi Arabia and other major producers to halt the slide in prices, echoing an announcement by his U.S. counterpart Donald Trump.
“We are ready to reach terms with partners within the framework of OPEC+ and are ready to cooperate with the United States on this issue,” Putin said on Friday during a video conference with top government officials and oil executives. “I believe that it is necessary to combine efforts in order to balance the market and reduce output.”