Putin backs cap on oil production

Putin with Russian oil executives 01-03-16Russia will back international calls to cap oil production, President Putin told a meeting of senior representatives from the country’ state-run and private-sector oil companies yesterday, after last month’s announcement of a preliminary agreement with  Saudi Arabia, Venezuela, and Qatar to freeze output at January levels with the aim of boosting oil prices. “As the minister [Russian Energy Minister Aleksandr Novak] has reported, you are all in agreement with this proposal,” he told the executives.
So far, Iran has resisted proposal to join in the production freeze.

Source: voanews