Moscow — Russian President Vladimir Putin said Wednesday his country will continue to work with OPEC on stabilizing oil markets despite “minor disagreements.” The current OPEC+ output cut agreement is in place until the end of March 2020. Participants will meet to discuss the market situation in early December, with prices continuing to hover around $62/b, which is significantly below the fiscal breakeven level for the cartel’s core Gulf producers. “We have some minor disagreements but overall we have a common task,” Putin said during the Russia Calling forum in Moscow on Wednesday. “The task is to balance the market so that it is acceptable for producers and consumers. The most important thing, I want to stress, is that it is predictable.” Earlier on Wednesday, Russia’s energy minister Alexander Novak told reporters that the Kremlin wanted new volumes of gas condensate — a high-value byproduct of natural gas — excluded from its quota as part of its OPEC + pact. “Only coordinated steps have the optimal impact for international energy markets,” Putin said, adding that Russia will always be a “responsible” participant in the energy market. Under the current OPEC /non-OPEC cuts deal — which runs to the end of March 2020 — Russia has committed to pare 230,000 b/d from its October 2018 output of 11.42 million b/d. Putin also described current US shale oil and gas technology as “barbaric” and too environmentally damaging for Russia to consider using. “We don’t need such production, despite all the possible economic benefits, we will never do this. We have options offshore and onshore, therefore there is not an urgent need,” he said. He added that he does not expect serious shale oil growth in the US in future. Finally Putin said that Russia is not planning to use funds from the National Welfare Fund to develop the oil and gas industry, but will prioritize development of the infrastructure and technology sectors.