Russia's Putin: situation on oil market is stable

Russian President Vladimir Putin said on Wednesday that the situation on the global oil market was, on the whole, "absolutely stable".

Speaking at a televised government meeting, he also said that Russia had been cutting oil production and it was at the "required level", adding:

"But all our actions, including those related to voluntary production cuts, are connected precisely with the need to maintain a certain price environment on world markets, in dialogue and contact with our partners in OPEC+."