Vladimir Putin and Donald trump, June 2019
Official White House Photo by Shealah Craighead / Flickr
the Presidents of Russia and USA Vladimir Putin and Donald trump discussed over the phone measures to combat the spread of coronavirus in the world of infection COVID-19. The press service of the Kremlin reported that “lengthy” conversation was initiated by the White house and both sides expressed it serious concern.
In the course of the conversation the presidents also discussed the state of the oil market after a sharp fall in world oil prices. “We also exchanged views on the current state of the global oil market. Agreed about the Russian-American consultations on the lines of energy Ministers”, – said the press service of the Kremlin.
the Presidents also “agreed to continue personal contacts”.
the tramp on the eve of the conversation with Putin said in an interview with Fox News that Saudi Arabia and Russia are “crazy” and he intends to discuss with the Russian President this issue, as well as a “big problem” distribution COVID-19, RBC.
trump said that low oil prices that prevailed in the global market, “bad for all” and he also wanted their increase, because they do not wish the destruction of the US oil industry.
In the course of trading on 30 March futures price for Brent oil for delivery in may 2020 fell below 22 dollars for barrel. The price of Russian Urals crude oil last week fell to the lowest since 1999.
One of the journalists of Fox News asked trump how he would react to that Putin asks him about the possibility of withdrawing from Russia sanctions. Donald trump said that he anticipated such a question, who hears from Putin last two years. However, the American leader did not talk about what would be his answer. Instead, trump reminded that it imposed new sanctions against Russia, and allegedly refers to her “harder” than any President in U.S. history. At the same time, trump recalled that during the Second world war, the United States and the Soviet Union were allies.
According to analysts, by the summer of to store the oil will be nowhere. Of the three largest world oil producers Russia has the least amount of available storage is approximately eight days. These figures are based on the volume of production that can be saved if the export runs out. Saudi Arabia has in reserve for 18 days, and in the US for 30 days. Now oil give free and sometimes even pay extra to consumers.
Note that glut in the oil market is due not only to the pandemic of mers because of the combat which stops production and falling consumption, but also the beginning of the economic “war of attrition” between Saudi Arabia and Russia. It provoked a demonstrative RF output of OPEC transactions+ that signalled Moscow’s willingness to increase oil production. In the end, the same solutions were taken and other exporters. This has already led to a significant drop in oil prices, which Moscow more and more difficult to sell for other reasons. So, China started to refuse from hydrocarbons of Rosneft due to US sanctions against Russia.
Experts believe that even the first effects of the “oil war” for Russia are disastrous. However, in the Kremlin deny it.
