Putin says agreement on oil output freeze reached with Russian producers

MOSCOW, March 2. /TASS/. An agreement to freeze oil production at January 2016 level has been actually reached, Russian President Vladimir Putin said at the meeting with the government on Wednesday.

"We met the management of our oil companies. An agreement was reached at large that we will keep 2016 year oil production level at the level of January of this year," the President said.

The Russian president held the meeting with chief executives of Russian oil companies on Tuesday, oil production ‘freeze’ was discussed at the meeting.

Consultations of the Energy Ministry with foreign partners on oil prices stabilization continue, the President said. "The point is not to boost our oil production this year," Putin said.