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Russian President Vladimir Putin: Oil production freeze is the right decision

Vladimir Putin
Ivan Sekretarev | Pool | CNBC

Russian President Vladimir Putin would like OPEC and Russia to reach a deal to freeze oil production.

Putin also said that he expects the dispute over Iran's participation can be resolved, and that he was confident that all parties would reach a compromise, in a Thursday interview with Bloomberg published Friday.

"We believe that this is the right decision for world energy," Putin told the news agency.

His comments contrasted with Russian Energy Minister Alexander Novak's remarks, made Friday in a Reuters report, that downplayed the potential for talks on a possible oil output freeze.

Oil prices rallied last month as speculation of a production freeze mounted ahead of a meeting of OPEC and non-OPEC members scheduled for the end of September. Brent crude gained more than 10 percent in August to $47.04 a barrel, while U.S. crude rose nearly 7.5 percent to $44.70 a barrel.

Skepticism of a deal to curb supply has increased recently, putting pressure on oil prices.

WTI was more than 1.5 percent higher at just below $44 a barrel early Friday morning, while Brent traded more than 2 percent higher above $46 a barrel.

Read the Bloomberg interview here.

Correction: This story has been updated to reflect Putin's comments were from a Thursday interview and published Friday.