Putin Says Oil Pact With OPEC May Be Extended to End of 2018
- Russian leader says deal good for consumers, producers
- Putin says to consider deal at end of current pact in March
Putin Sees OPEC Deal Until End of 2018 If Extended
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President Vladimir Putin said Russia is open to extending a deal with OPEC to curb oil supplies to the end of 2018, though he’ll wait to make a decision until nearer the expiry of the existing pact in March.
The comments are the strongest signal yet that the Kremlin is willing to redouble efforts to lift global energy prices, coming as Putin prepares to welcome King Salman Bin Abdulaziz of Saudi Arabia to Russia for the first time this week. OPEC Secretary-General Mohammad Barkindo called them a “very strong endorsement” of the deal.