Putin Does not Plan to Discuss Situation on Oil Market with OPEC Secretary General and Riyadh
"There are no such plans yet", he said, answering the question whether the president of the Russian Federation plans to discuss what is happening on the global oil market with the OPEC secretary general. Peskov added that there are no contacts either with the crown prince or with the king of Saudi Arabia. Commenting on the outcome of the meeting on urgent international issues on Sunday at which Putin raised the topic of coronavirus and the situation on the global energy market, Peskov noted that it "didn't aim to make any concrete decision".
OPEC+ countries (24 oil exporting countries, including Russia) have been coordinating production management since 2017. In July 2019, they extended until the end of March agreements to reduce oil production by 1.2 million barrels per day to the level of October 2018, of which 812 thousand barrels per day fall to OPEC countries. In December 2019, OPEC+ ministers decided to strengthen the reduction in production from 1.2 million barrels per day to 1.7 million barrels per day.