Putin Says OPEC+ Cuts Were To Maintain High Oil Prices

Russia’s President Vladimir Putin has contradicted the position by OPEC+ that its 1.2 million barrels per day production cut announced in April was intended to balance the markets, with the Russian leader saying it was necessary to maintain relatively high oil prices.  According to Putin, the situation in the global oil markets is "absolutely stable" as Russia maintains output cuts in a bid to support prices adding that Russia was cutting production at the "required level". "But all our actions, including those related to voluntary…