Putin: Oil output should be cut by 10 mln bpd from Q1, but in partner-like way
MOSCOW. April 3 (Interfax) - Amid the decline in the demand for oil, the global oil output should be cut by about 10 million barrels a day from the level of the first quarter of 2020, and this should be done in a partner-like way, Russian President Vladimir Putin said at a conference dealing with the situation on the global oil market on Friday.
"Based on rough estimates, I think we could talk about a reduction by roughly 10 million barrels a day, maybe slightly less or maybe slightly more. This is why we have gathered today to discuss these matters," Putin said.
"Certainly, all of this should be done in a partner-like way. And I suppose that, when I talk about partner-like interaction, everyone, including our partners, should understand that we could talk about a reduction from the output level that existed before the start of the crisis, that is, I am talking about the output level in the first quarter of this year," he said.