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All decisions in OPEC+ depoliticized — Putin

The organization's decisions are related to issues of economic reasonability, both for producers and for consumers, the President said

ST. PETERSBURG, June 16. /TASS/. All decisions taken within the framework of OPEC+ are depoliticized, while joint actions with partners permit bringing the oil market into balance, Russian President Vladimir Putin said at the St. Petersburg International Economic Forum (SPIEF) on Friday.

"I should tell you that all decisions within the framework of OPEC+, on [oil] output reduction in particular and first of all, are depoliticized. They are related neither to Russia’ special military operation nor to any other considerations of the moment. They are related to issues of economic reasonability, both for producers and for consumers. Overall, we manage to bring the market into balance through joint actions," he said.

Algeria is also a part of the OPEC+ group, Putin noted. "We also advise with Algeria when taking those decisions within the framework of this organization," he added.

Algerian President Abdelmadjid Tebboune took part in the plenary session of the St. Petersburg International Economic Forum as well.

The 26th St. Petersburg International Economic Forum (SPIEF) - Russia’s showcase annual economic and business event - is being held on June 14-17. 'Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations' is theme of this year’s forum. TASS is the official information partner of the event.

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Vladimir Putin OPEC SPIEF-2023

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