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Putin is happy with oil agreements in OPEC+ format, says Kremlin

The Kremlin representative also drew attention to the fact that Russian Energy Minister Alexander Novak continues to work with colleagues from the G20 countries

MOSCOW, April 10. /TASS/. Russian President Vladimir Putin positively assesses agreements on oil in the OPEC+ format, Kremlin spokesman Dmitry Peskov told reporters on Friday.

The Kremlin welcomes Mexico’s accession to the outcome document, which will have a positive impact on the global market.

"President Putin very positively assesses the agreed document, which became a compromise of 22 countries that took part in [the negotiations]," the Kremlin official said. He stressed that Moscow also positively assesses the "constructive position taken by the Mexican side."

"Now we can talk about a compromise of all 23 participating countries, we are convinced that this will have a positive effect, a stabilizing impact on world energy markets," Kremlin spokesman said.

Peskov underscored the position of the twenty-third country - Mexico, which later also joined the agreement.

"The Pesident positively takes the document, especially after the constructive position taken by the Mexican side," Peskov said.

"We welcome this position and believe that now we can talk about a compromise of all 23 participating countries. We are convinced that this will have a positive effect, a stabilizing effect on world energy markets," the Kremlin spokesman said.

"We are convinced that the agreed document will have a very positive impact on international markets, which will only increase after the accession of Mexico," the spokesman for the Russian leader said.

The Kremlin representative also drew attention to the fact that Russian Energy Minister Alexander Novak continues to work with colleagues from the G20 countries. He expects this topic to be "a strong priority in the coming days and in the short term." Speaking about the reduction of US oil production, Peskov recalled that "there are legislative restrictions for the United States to participate in such interaction formats.

"But, of course, in this case a general decline in production is inevitable for all countries amid a global drop in oil demand," the Kremlin representative said.

The online meeting of OPEC+ countries lasted 10 hours from Thursday evening to early Friday morning. The main agreement was reached between Russia and Saudi Arabia, which will reduce production by 23% to the level of 8.5 mln barrels per day.