FILE PHOTO: Kremlin aide Andrei Belousov attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 7, 2019. REUTERS/Maxim Shemetov
MOSCOW (Reuters) - Russia never sought a sharp oil price fall or an end to cooperation with Organization of Petroleum Exporting Countries (OPEC), and the Gulf nations are to blame for the crisis on the global oil markets, a senior Russian official said.
In early March, Russia and OPEC failed to agree how their deal to cut oil production should work: OPEC wanted to deepen the cuts while Moscow proposed extending existing curbs. The disagreement came at a time when global demand was slumping because of the impact of the coronavirus pandemic.
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