Contacts with oil producers can be promptly agreed upon — Kremlin

Russian President Vladimir Putin has not planned meetings with Russian oil producers and leaders of Saudi Arabia but such contacts can be promptly agreed upon if required, Presidential Press Secretary Dmitry Peskov told reporters on Monday.

"Not planned so far," Peskov said, answering the question whether the Russian leader plans a new meeting with chief executives of Russian energy companies. No contacts with the king or the crown prince of Saudi Arabia are planned either, he noted.

"No, no such plans for the time being," the press secretary said. "Contacts are currently agreed upon fairly quickly and can appear in the schedule if needed," Peskov added.

The situation on financial markets was predictable, Peskov noted. "There were expectations and forecasts that the period of lower oil and energy prices would come," he said.

"We are keeping a close eye on trends in this area. You know that our producers regularly communicate with the Ministry of Energy; they are contacting on an ongoing basis. All the required work is underway in this case," the press secretary added.

OPEC+ agreement participants failed to decide on further oil production cuts in view of the falling demand due to the coronavirus spread during talks on March 6. All the limitations of oil production will be lifted from April 1, 2020. Moscow has already stated the possibility of quickly scaling production up by 200-300 thousand barrels daily and by 500,000 barrels per day over time.


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