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Putin did not propose extending oil output cut deal: Kremlin
October 6, 2017 / 11:39 AM / in 12 days

Putin did not propose extending oil output cut deal: Kremlin

Russian President Vladimir Putin (R) meets with Saudi Arabia's King Salman in the Kremlin in Moscow, Russia October 5, 2017. Sputnik/Alexei Nikolsky/Kremlin via REUTERS

MOSCOW (Reuters) - Russian President Vladimir Putin did not propose extending a global oil output cut deal but said he recognised it was a possibility, the Kremlin said on Friday.

Putin and Saudi King Salman held talks in Moscow on Thursday. A day earlier, Putin had said that the global oil deal could be extended to the end of 2018 depending on market conditions.

Dmitry Peskov, a Kremlin spokesman, did not say on Friday whether Putin and King Salman discussed the deal during the meeting.

“Vladimir Putin did not propose this (an output cut extension),” Peskov told reporters on a conference call. “Vladimir Putin recognised that such a possibility exists. It’s an incredibly important nuance.”

Peskov said the two men had discussed world oil prices and joint cooperation to stabilise the market.

Reporting by Maria Tsvetkova; Writing by Andrew Osborn; Editing by Christian Lowe

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