Opec+ May Form 'Alliance'

Putin discussed issue many times, says Kremlin spokesman.

Russian President Vladimir Putin discussed the possibility of transforming OPEC+ into a more stable structure many times, presidential spokesman Dmitry Peskov said Tuesday.

Putin broached the subject at a meeting with Saudi Crown Prince Mohammed bin Salman on the sidelines of the G20, Peskov told reporters in Moscow.

"This topic has been discussed repeatedly with international partners in a positive way. The president spoke about the effectiveness of this area of work in terms of stabilization of the situation in international markets for energy prices," he said.

Earlier it was reported that OPEC and non-OPEC countries, encouraged by the success of the current declaration on cooperation, have decided to formalize relations by creating a structure that can be called "Alliance".

OPEC+ have been reducing oil production for more than two years to stabilize the oil market. -