Weekly Market Outlook

Putin Says Russia Ready to Freeze or Even Cut Output With OPEC

Russian President Vladimir Putin says his country is prepared to join an oil-output decision which may include a freeze or cut to output, Bloomberg News reports.

Speaking at the World Energy Congress in Istanbul Monday, Putin said he hoped OPEC would agree on limits to its crude production in November and that Russia was ready to support that decision. Russia will continue to be a reliable energy supplier, he said.