MOSCOW--OPEC's decision to leave its oil output unchanged suits
Russia, President Vladimir Putin said Friday, Russian news agency
reported.
The 12-member Organization of Petroleum Exporting Countries
decided Thursday to keep its production ceiling unchanged at 30
million barrels a day, sending Brent crude prices below $72 per
barrel for the first time since mid-2010.
"It generally suits us and we see nothing special about it," Mr.
Putin said, referring to the OPEC decision.
Mr. Putin, who met new Total Chief Executive Patrick Pouyanne on
Friday, said he was sure the oil market would stabilize in the
winter.
The ruble hit all-time lows on Friday after oil prices slumped.
The continued drop in oil prices poses substantial risks for
Russia, the world's third-largest oil producer, as its federal
budget depends on oil and gas sales for around half of its annual
revenue.
Write to Andrey Ostroukh at andrey.ostroukh@wsj.com