October 13, 2019 / 9:46 AM / a month ago

Russia's Putin says global oil inventories need cutting to 'reasonable level' - Arabiya

DUBAI (Reuters) - Russian President Vladimir Putin said global oil inventories need cutting to “reasonable levels” and that attacks in recent months on tankers in the Gulf and Saudi oil sites will bolster cooperation between OPEC, Russia and other oil producers.

Putin was speaking in an interview with Arab broadcasters, including Saudi-owned Al Arabiya TV, ahead of his first visit to Saudi Arabia in more than a decade.

He told Al Arabiya that Russia would work with the kingdom and other partners to “reduce to zero attempts to destabilise the oil market”.

(The story corrects text to clarify Putin speaking ahead of visit to Saudi).

Reporting by Maher Chmaytelli and Aziz El Yaakoubi; Writing by Lisa Barrington; Editing by Raissa Kasolowsky/Mark Heinrich

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