Putin says oil price may well rise to $100 per barrel

TASS Russian News Agency | Oct 13, 2021 at 4:21 PM

MOSCOW, October 13. /TASS/. Russian President Vladimir Putin considers the oil price at $100 per barrel "quite possible."

"Quite possible. The (oil - TASS) price is rising now. We mean Russia," he said at a plenary session of the Russian Energy Week on Wednesday.

Russia avoids price hikes on the oil market, the president added. "We are doing everything to stabilize the oil market, avoid price hikes," he said.

That said, Russia has not yet reached the pre-crisis level of crude production, Putin believes.

"The market has stabilized, though we have not yet reached the pre-crisis level of production - 11 mln barrels per day. Our position is to boost production in accordance with the growing market needs," he noted.