Putin Says Oil Output Freeze Would Be Right Decision: Bloomberg

Russian President Vladimir Putin said an agreement between oil exporters to freeze output would be the right decision for the global market and Iran should compromise to achieve a deal.

Attempts by OPEC and non-OPEC oil exporters to reach a pact on stabilizing production levels earlier this year foundered because Iran, which is anxious to increase exports after the lifting of international sanctions, declined to participate.

“I think that from the point of view of economic expediency and logic, it would be right to find some sort of compromise,” on Iranian output, Putin said in an interview with Bloomberg, a transcript of which was published on the Kremlin website.

Reuters

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