Kremlin Says No Concrete Talks With OPEC on Oil Output Curbs
- OPEC called on all producers this week to help revive prices
- Russia depends on energy for more than 40% of budget revenue
Oil Declines as U.S. Stockpiles Increase
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Russia isn’t holding specific talks on oil output levels with other producing countries even as $30 crude squeezes the economy of the world’s biggest energy exporter, according to the Kremlin.
“Consultations, exchanges of views with different countries, especially oil-producing countries, on the situation in the oil markets take place regularly,” President Vladimir Putin’s spokesman Dmitry Peskov said Wednesday. But “there’s no specific discussion on coordination of actions” on output now, he told reporters on a conference call.