Putin was speaking at a televised meeting of his government on Wednesday.
The recent background to his comments is that Russia said on April 2 it would extend an oil production cut of 500,000 barrels per day (bpd) - about 5% of its crude output - until the end of the year, compared with February levels.
Putin:
- "We are reducing production, but nevertheless it is at the required level"
- "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+"
Others in OPEC+, on the contrary, have said and continue to say that the cartel is not trying to push the price up. Which is rubbish, of course.
