MOSCOW, June 5. /TASS/. Russia considers the OPEC+ format a significant factor for ensuring stability in global energy markets, Kremlin Spokesman Dmitry Peskov told reporters.

The Kremlin official was responding to a question on this topic within the context of the latest OPEC+ meeting in Vienna.

"Of course, this format retains its importance and its significance for ensuring stability in international energy markets," Peskov said.

He noted that Russia, being a member of OPEC +, is continuing its work within this format.

On Sunday, the OPEC+ countries extended the decision to voluntarily cut oil production until the end of 2024, agreeing that the production level for the next year will be 40.46 million barrels per day (bpd).

Russian Deputy Prime Minister Alexander Novak said that the total reduction in oil production by OPEC+ countries by the end of 2024 is estimated at 3.66 million barrels below the October 2022 level. He also specified that Russia "will adjust its oil production to 9.828 million bpd (according to independent sources) and further extend its voluntary cut of 500,000 bpd until the end of December 2024 as a precautionary measure in coordination with those producer countries that are party to the OPEC+ agreement."