MOSCOW: Russian President Vladimir Putin said on Wednesday that OPEC+ coordination would continue in order to ensure predictability on the oil market and signalled strongly that a deal to constrain supply to world markets was here to stay.

OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, pumps around 40% of the world’s crude. It currently has an agreement to limit supplies until the end of 2024.

“I am sure that the coordination of the OPEC+ partners’ actions will continue,” Putin told the “Russian Energy Week” conference in Moscow beside Iraqi Prime Minister Mohammed Shia Al-Sudani. Iraq is the world’s third largest oil exporter.