Home / News / Putin blamed Saudi Arabia and Corona for falling oil prices

Putin blamed Saudi Arabia and Corona for falling oil prices

The Russian president blamed Saudi Arabia’s withdrawal from the oil supply deal, as well as the impact of the Corona virus on global demand for the commodity in ordering of the recent fall in oil prices.

According to Reuters in Moscow, Vladimir Putin met with Alexander Novak, the country’s energy minister, on Friday, announcing that Saudi Arabia was planning to get rid of its shale oil rivals, forcing oil prices to fall lower than $ 40 per barrel.

Putin said Russia was urging the United States and other major oil producers to jointly cut oil production in order to reduce problems such as low prices and weak demand.

The RIA Novosti news agency quoted the Russian energy minister as saying that although the United States had legal restrictions on reducing oil production, it needed to be flexible.

READ  Aramco’s Next Plan To Raise Billions Of Dollars

Leave a Reply

Your email address will not be published. Required fields are marked *