Putin: OPEC+ stabilizes oil markets, world economy

Thursday, 14. November 2019 20:36

The cooperation between the Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia within the OPEC+ format brings "stability" to the global energy market and the world economy, Russian President Vladimir Putin said at a press conference in Brazil on Thursday.

Speaking after the 11th BRICS summit, Putin said that the idea of the OPEC+ system is to create a balance in the market by joint efforts that do not damage any of the parties. He added that it isn't just the production cuts that contribute to the success of OPEC+, but also other steps that are enabled within the format as it increases cooperation possibilities.

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Breaking the News / VP