“We have never sought either too high or too low oil prices. We feel comfortable at prices of $42 per barrel,” Putin said.
Earlier, Putin called the current oil prices a serious challenge for the country.
Fluctuations in the market began on March 6, when the participants of the OPEC+ meeting could not come to a common decision. Russia did not support the proposal to further reduce oil production by 1.5 million b/d in the second quarter of 2020. After the deal failed, oil prices fell by 30%.