Investing.com -- Russian President Vladimir Putin announced Thursday that Russia will produce 510 million tons of oil in 2025, representing a 1% decrease from 2024 production levels.
Putin stated that these production volumes align with Russia's commitments under OPEC+ agreements, which the country continues to follow. He emphasized that Russia is fulfilling its obligations to help balance the global oil market through its participation in the OPEC+ coalition.
The Russian leader also noted that oil demand is growing globally, despite the transition to cleaner energy sources. Putin expressed his view that gasoline-fueled cars will remain in use "for a long time," suggesting continued demand for traditional petroleum products.
During his remarks, Putin highlighted the importance of predictability in the oil market, calling it "the key" factor for market stability.
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