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Cooperation in OPEC+ makes possible to keep oil prices — Putin

The President stressed that he personally supported efforts underway in the OPEC+

MOSCOW, March 12. /TASS/. Cooperation within the OPEC+ framework helps Russia to keep oil prices and secure budget revenues, President Vladimir Putin said at the meeting with the Leaders of Russia competition winners.

"The OPEC+ indeed helps us to maintain oil prices, provide for budget revenues," the head of state said. Putin mentioned also the viewpoint that "since oil production declines and it grows in other countries lime the US, then Russia may lose markets." The President stressed that he expressed the alternative point of view in this case and he personally supports efforts underway in the OPEC+.

The assumption for this issue should be that the oil demand will not reach its peak during the next ten - fifteen years, said First Deputy Energy Minister Pavel Sorokin, who participated in the meeting with the Russian President. The US and other countries have fields with different specific - shale oil, and these countries are bringing on stream wells drilled before the COVID-19 pandemic, Sorokin added.

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Foreign policy Vladimir Putin OPEC

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Court places Forbes reporter under house arrest for discrediting Russian armed forces

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Russia strikes major thermal power plant in western Ukraine — underground resistance

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Ukrainian drone attack on Russia’s Belgorod Region leaves five civilians injured

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Better situation for peace in Ukraine, threats to Belarus: new statements by Lukashenko

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Ukraine’s army leaves first defensive line in Berdychi near Avdeyevka, says DPR

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China, US free to have their own friends, partners — President Xi

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Lithuania’s prime minister warns US may curtail aid to Ukraine

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Russia has many questions for UN chief, Russia’s envoy says

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Russia fights West’s sanctions at UN for the sake of developing countries — envoy to UN

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