Russian President Vladimir Putin said he was in favor of reducing oil production on Friday, April 3, in cooperation with the United States and Saudi Arabia, adding that he envisaged a reduction of 10 million barrels per day.

"We are ready for an agreement with our partners within the framework of the" Opep + "mechanism, and are ready to cooperate with the United States on this matter," he said during a videoconference meeting with his minister. of Energy transcribed on the site of the Kremlin.

"According to preliminary estimates, I think it is possible that there is a decrease (in oil production) of around 10 million barrels per day. Maybe a little less, maybe a little more, "he said.

"I think it is necessary to join efforts to balance the market and reduce the production" of oil, added Vladimir Putin, saying that Russia was in close contact with its Saudi partners.

OPEC confirmed Friday the holding of an exceptional meeting of its members and allies Monday, the day after tweets from US President Donald Trump about possible cuts in Saudi and Russian production, of the order of ten million barrels per day. These tweets have boosted crude prices.

The black gold market is still under pressure from sluggish demand due to restrictions on the transportation of people and goods around the world to fight the spread of the Covid-19 pandemic.

At the same time, the supply remains overabundant amid a price war between Riyadh and Moscow.

With AFP

The France 24 week summary invites you to come back to the news that marked the week

I subscribe

Take international news everywhere with you! Download the France 24 app

google-play-badge_FR