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Putin Says Oil at $60 Suits Russia With OPEC Weighing More Supply

Henry Meyer, Rosalind Mathieson
Putin Says Oil at $60 Suits Russia With OPEC Weighing More Supply

Oil prices at $60 a barrel fully suit Russia and the country doesn’t want them to spiral higher, President Vladimir Putin said. “We’re not interested in an endless rise in the price of energy and oil,” Putin told reporters at the International Economic Forum in St. Petersburg, adding that Russia and OPEC didn’t plan to stick to existing output cuts. Oil plunged on Friday as it emerged Russia is talking to members of the Organization of Petroleum Exporting Countries about a plan to boost production for the first time since 2016.