Russia supports efforts to limit oil production and urges other exporters and producers to do the same, President Vladimir Putin said Monday.
Speaking at the World Energy Congress, of which Anadolu Agency is the global communication partner for 2016, Putin said that they supported OPEC's decision to limit oil production.
"We support recent OPEC's initiative aimed at limiting oil production and we expect that at the OPEC meeting in November this idea will be presented in such a way to send a positive message to markets and investors," he said.
"Of course this decision will help curb the speculative activity and avoid new price fluctuations," he added.
He said "not only producers and exporters, but consumers should also act in a responsible way. Energy security can be safeguarded if we pay attention to others' interests. We stand for firm compliance with the principles of free trade and fair play."
Russia, a large energy power, has always contributed to long terms and sustainable development, according to Putin.
Speaking on Russia's energy future, Putin said that Russia had been boosting exploration of new deposits and was continuing to invest in exploration.
"There should be no doubt that our country will continue to be a viable energy supplier in global markets," he stressed.
He explained that in talks with Turkish President Recep Tayyip Erdogan, the need to develop the Turkish Stream natural gas project had been indicated adding that Russia also planned to actively expand hydrocarbon exports eastward to China, Japan and India.
"Russia will further interact in energy with all interested parties for mutual beneficial partnerships on an equal footing," he added.