According to him, gradual reduction of oil production, implemented in accordance with the agreement with OPEC, will not affect the Russian economy.
However, in the second half of 2017, there will be no surplus oil on the market, and the prices will stabilize and reach the current level. Nevertheless, Vladimir Putin noted that Russia's economy has adapted to current energy prices.
The results turned to be better than expected, although the oil price was lower than it was calculated.