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Russia, OPEC+ not going to inflate oil prices — Putin

Russia is not the member of the alliance but participates in the OPEC+ extended format, the head of state said

SOLNECHNODOLSK SETTLEMENT /Stavropol Region/, March 5. /TASS/. Russia and its OPEC+ partners do not intend to "inflate" oil prices, President Vladimir Putin said.

"As regards speculators, you know, the situation is almost the same in all sectors. Consider the energy industry - as like as two peace, all the same. This is why the OPEC was created in its time: to stabilize the [energy] market situation," the Russian leader said at the meeting with the agricultural community.

Russia is not the member of the alliance but participates in the OPEC+ extended format, the head of state said. "This makes it possible to regulate market prices. We are not going to boost prices endlessly because it adversely affects producers and consumers. We want nevertheless to achieve stability and we manage to do this so far," Putin added.

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Vladimir Putin OPEC

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