World News

Kremlin says Russia is ready for oil market cooperation

MOSCOW (Reuters) – Moscow is ready to coordinate with other leading oil exporting countries to help to stabilise the global oil market, the Kremlin said on Monday.

Kirill Dmitriev, head of Russia’s wealth fund, told CNBC earlier on Monday that Saudi Arabia and Russia are “very, very close” to a deal on oil production cuts.

“Moscow is ready for cooperation and interested in interaction with countries in order to stabilise the energy markets,” Kremlin spokesman Dmitry Peskov told a daily conference call with reporters.

Peskov also said that talks between OPEC and other leading oil producers, a group known as OPEC+, were delayed until Thursday for technical reasons and preparations for the meeting were under way.

(Reporting by Anastasia Teterevleva; Writing by Vladimir Soldatkin; Editing by David Goodman)