Putin says Russia a top oil producer, despite 'unfair' pressure / Photo: Alexander Zemlianichenko - POOL/AFP
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NYSE - LSE
Putin says Russia a top oil producer, despite 'unfair' pressure
Russian President Vladimir Putin said Thursday that his country was still among the world's top oil producers, despite what he called "unfair" anti-competitive practices used against it.
Speaking at a conference on Russian energy in Moscow, Putin said European countries had hurt their own economies by cutting sales of Russian gas and criticised Western restrictions on exporting equipment to Russia.
Putin did not mention US pressure on China and India to stop buying energy from Russia.
"Russia maintains its position as one of the leading oil producers, despite the use of unfair competition mechanisms against us," Putin said.
"We account for approximately 10 percent of global production and expect that by the end of the year, our country will have produced 510 million tonnes of oil," he added.
T.Ward--AMWN