Kremlin says Russia is ready for oil market cooperation

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MOSCOW is ready to coordinate with other leading oil exporting countries to help stabilise the global oil market, the Kremlin told Reuters yesterday.

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.

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

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.