March 1, 2020 / 8:32 AM / a month ago

Russia's Putin says current oil prices acceptable

MOSCOW, March 1 (Reuters) - Russian President Vladimir Putin said on Sunday that current oil prices were acceptable and that Russia had the tools to react to any negative effects of the spread of the coronavirus on the global economy, Russian news agencies reported.

Putin added that he sees the OPEC+ group as an effective mechanism to preserve long-term stability, adding that Russia had to be prepared for different scenarios on oil markets following a global fall in oil prices on coronavirus concerns. (Reporting by Vladimir Soldatkin and Andrey Ostroukh; Writing by Polina Ivanova; Editing by Susan Fenton)

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