MOSCOW, April 3 (Reuters) - The Kremlin said on Monday that it was in the interests of the world energy industry to support prices for oil and oil products, a day after Russia announced it would extend a 500,000 barrels per day (bpd) output cut until the end of the year.
Russia is part of the OPEC+ group of producer countries which announced combined cuts of around 1.16 million bpd in a surprise move on Sunday that the United States described as unwise.
Asked about the U.S. criticism, Kremlin spokesman Dmitry Peskov told reporters: "In this case, it is in the interests of world energy to maintain world prices for oil and oil products at the proper level. This is what you need to focus on. And whether other countries are satisfied or dissatisfied - that's their own business."
Peskov said it was important to maintain prices at a certain level because the sector was investment-intensive and because for the foreseeable future it was not possible to meet all countries' needs from renewable sources.
Asked if Russia had coordinated its actions with OPEC+, he said: "Russia is in constant contact with a number of OPEC+ states, this is a normal process, but nothing more. In this case, the countries have an independent line, an independent interest in stabilizing the market."
