Putin: We do not have specific figures on reducing oil production

BAGHDAD, Russian President Vladimir Putin said he did not have specific figures on possible cuts in oil production, although his country would continue to contribute to cutting global output.

Russia is negotiating with Saudi Arabia on the time and magnitude of any production cuts. Producers from OPEC and outside it will hold a ministerial meeting on Dec. 6 and 7.

“Yes, we have an agreement to extend our agreements,” Putin told reporters on the sidelines of the G20 summit in the Argentine capital Buenos Aires

There is no final agreement on the quantities but we will reach that with Saudi Arabia. Whatever the final figure, we agreed to monitor the situation in the market and respond quickly. “

OPEC and its allies will meet amid fears of a global economic slowdown and an increase in oil supplies from the United States.

Source: National Iraqi News Agency