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Putin expresses misgivings over OPEC fair price

President Vladimir Putin said on Thursday Russia had differences with OPEC over what constituted a fair price for oil, but that Moscow would take a joint decision on output with OPEC colleagues at a policy meeting in the coming weeks.

Putin said a price of $60-$65 a barrel suited Moscow, while Saudi Arabia wanted a higher price.

He added that the decision by OPEC and its oil exporting allies should take into account the decline in production in Iran and Venezuela, and problems in Libya and Nigeria.

He declined to say what Russia would do with output in the second half of this year.

Source: Reuters

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