Putin expects oil prices to find balance by middle of 2015
Reuters
Published Nov 28, 2014 07:47AM ET
Putin expects oil prices to find balance by middle of 2015
SOCHI, Russia (Reuters) - Russian President Vladimir Putin said on Friday he was confident the oil market would find its balance by the middle of next year.
"I am confident that in the first quarter, in the middle of next year the (oil) market will find a balance," Putin told a meeting with the chief executive officer of France's Total (PA:TOTF), Patrick Pouyanne.
Brent crude oil steadied below $73 a barrel on Friday after hitting a fresh four-year low following OPEC's decision not to cut output.
Putin added he had expected oil prices to fall after OPEC's meeting and said Moscow had not insisted on any specific action to stabilize them.
(Reporting by Denis Dyomkin; writing by Katya Golubkova, editing by Elizabeth Piper)
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