On Monday, Kremlin spokesman Dmitry Peskov said OPEC+ is vital to energy market stability.
OPEC+ pumps 40% of global crude and has decreased by 3.66 million barrels daily, 3.6% of global demand.
“OPEC+ includes Russia. “The OPEC+ format continues its work; there are common agreements that, of course, everyone will follow,” Peskov told a daily press briefing.
“Of course, this format retains its importance and significance for ensuring stability in international energy markets.”
After seven hours of meetings on Sunday, OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, voted to cut output objectives by 1.4 million bpd from 2024.
Saudi Arabia will cut output deeply in July as part of an OPEC+ plan to curb supplies into 2024 to support oil prices.
