Putin Says $70 Crude Suits Russia Fine, Talked Oil With Trump
- Russian leader won’t commit to cuts, praises OPEC cooperation
- Putin hopes to restore ‘full-scale’ relations with U.S. soon
Vladimir Putin shakes hands with Donald Trump in Paris on Nov. 11.
Photographer: Ludovic/ Marin/AFP via Getty Images
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President Vladimir Putin said he discussed the price of oil with U.S. counterpart Donald Trump when they met in Paris briefly on Sunday, adding that Russia is happy with current prices.
Putin was more upbeat on the current market situation than his colleagues in OPEC, saying “where it is now, where it was recently, anything around $70 suits us completely.” He wouldn’t commit to cutting output to help support prices, as some OPEC members have urged, earning them criticism from Trump. Russia aims to continue cooperation with OPEC to stabilize the oil market, with existing efforts having shown “positive results,” Putin said.