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OPEC+ decisions give hope for smooth transition of world economy to normal mode — Putin

The president vowed to pay attention to the issue of stimulating viscous oil production in the context of a proposal by Lukoil President Vagit Alekperov

NOVO-OGARYOVO, March 11. /TASS/. The OPEC+ decisions give reason to hope for a smooth transition of the world economy to a normal mode, Russian President Vladimir Putin said at a meeting on measures to increase investment activity.

"I think that the decisions that have been made recently in the framework of OPEC+ still give us reason to believe that the transition of the world economy to the normal mode will be soft, calm and stable. Moreover, [Deputy Prime Minister Alexander] Novak managed to negotiate favorable conditions for the operation of our industry with a gradual increase in production," Putin said.

"Let's hope that there will be no abrupt movements here," the president added.

Commenting on the proposal of Lukoil President Vagit Alekperov, who said the government together with the Finance Ministry should find solutions to stimulate projects for the production of viscous oil, Putin said that he would pay attention to this issue.

"I have made a note for myself and will ask the energy minister and the deputy prime minister in charge of this area to work on this and report later," Putin said.