“Russia considers it necessary to unite efforts, we were not the initiators of the OPEC + deal breakup, we are ready for agreements with partners within the framework of OPEC +, and we are ready for cooperation with the United States of America,” he said.
As the President emphasized, it is necessary to combine efforts in order to balance the market and reduce oil production as a result of these “coordinated efforts and actions”.
“According to preliminary estimates, I think that we can talk about a reduction in the volume of about 10 million barrels per day, a little less, maybe a little more ... Of course, all this should happen in a partnership.”, He added.
Putin noted that we are talking about the level of production in the first quarter of this year.
“When I talk about partnerships, everyone, including our partners, understands that we can talk about a reduction from the level of production that prevailed before the crisis, that is, we are talking about the level of production in the first quarter of this year,” he pointed out.
Earlier, US President Donald Trump noted that he expects to reduce oil production by 10 million barrels of Russia and Saudi Arabia.