EnergyWatch

Putin optimistic about OPEC deal, Russia is ready to freeze

Russia's President Vladimir Putin remains optimistic that the Organization of Petroleum Exporting Countries will reach agreement this month and confirms that Russia is still willing to freeze crude output.

Photo: ALEXANDER ZEMLIANICHENKO

Russian President Vladimir Putin said he sees no obstacles to an OPEC agreement this month after oil exporters made major progress in overcoming differences as he reaffirmed Russia is willing to freeze crude output at current levels.

"Whether an agreement will be reached, I can't say 100 percent, but there's a strong likelihood that it will be achieved," Putin told reporters on Sunday after attending the Asia-Pacific Economic Cooperation summit in Lima. "The main contradictions within OPEC, if they're not yet eliminated, can be eliminated."

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