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Putin: Situation on global oil market is absolutely stable

On Wednesday, Russian President Vladimir Putin provided an update on the state of the global oil market during a televised government meeting. Putin stated that, overall, the situation on the global oil market was "absolutely stable." Furthermore, he added that Russia had been actively cutting its oil production and that it was currently at the "required level."

Reuters ECONOMY
Published May 17,2023
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Russian President Vladimir Putin said on Wednesday that the situation on the global oil market was, on the whole, "absolutely stable".

Speaking at a televised government meeting, he also said that Russia had been cutting oil production and it was at the "required level", adding:

"But all our actions, including those related to voluntary production cuts, are connected precisely with the need to maintain a certain price environment on world markets, in dialogue and contact with our partners in OPEC+."