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Russia still supports international oil market negotiations: Kremlin spokesman

Moscow — Russia still supports talks with other leading oil producers on stabilizing the market, Kremlin spokesman Dmitry Peskov said Sunday.

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"Russia was not a supporter of ending the OPEC+ deal. President Putin and the Russian side are overall inclined towards a constructive negotiation process, there is no alternative for stabilizing the international energy market," Peskov said during an interview aired on the Russia 1 TV Channel.

Peskov added that Saudi Arabia's decision to offer unprecedented discounts and increase production has led to a situation where storage is almost full.

"The result of this will be an absolutely minimal price for oil, which is not good for any country," Peskov said.

Peskov's comments follow the decision to delay an emergency OPEC+ meeting to Thursday, from Monday as originally planned.

In recent days. officials from Russia and Saudi Arabia have criticized each other. On Friday Russian President Vladimir Putin said that Saudi Arabia is boosting production to target US shale oil companies, while Russia is not interested in taking US market share.

Saudi officials said the comments were "categorically false and contrary to fact" and that Saudi Arabia is a major investor in the US energy sector.