Coordination by OPEC+ to ensure predictability on oil markets: Putin

Russian President Vladimir Putin said on Wednesday that coordination by the OPEC+ group of leading oil producers would continue to ensure predictability on the oil markets.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, began their latest cycle of limiting supplies in late-2022 to bolster the market.

“For the stability of the oil market, the interaction of the main suppliers is necessary, and on open, transparent terms. And it is with this logic that Russia works with partners within the framework of OPEC+,” Putin told a major energy conference in Moscow.