Russia would like to see higher oil prices: Kremlin spokesman

The Kremlin in Russia. (File photo: AFP)

Russia would like oil prices higher than the current $28 per barrel, according to Kremlin spokesman Dmitry Peskov.

Russia would like to see the oil price higher than current $28 per barrel, Kremlin spokesman Dmitry Peskov said on Wednesday when asked whether Moscow would consider resuming cooperation with OPEC.

“We are monitoring the situation on the global oil markets very closely and are trying to make a forecast both for the near future and for the mid-term. Our position (whether to consider a return to joint action) will depend on this,” Peskov said.

“But of course, (the current oil) price is low, we would like a higher one,” he said.

Talks between OPEC and non-OPEC nations on continuing coordinated output cuts collapsed this month. Their current pact expires on March 31.

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Last Update: 11:22 KSA 14:22 - GMT 11:22
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