Tag: oil

Recently the Minister of Finance of his native country, Mr. Siluanov gave are things that I almost choked — and in the moment in a public place it could even be life-threatening. He said with a straight face that, first, "were the fat years", and secondly, that now "we need to begin to effectively develop the economy". What?

Russia and Saudi Arabia at the summit of OPEC countries+ held 9 April via videoconference, to discuss the possibility of reducing global production by 20%. This is with reference to its sources, reports Reuters. In turn, the Wall Street Journal (WSJ), relying on its own channels of information, said that the overall discussion on capacity reduction of 20 million barrels per day. Earlier, Russia offered to cut the appetites of only 10 million "barrels" of which promised to take a limit of 1.6 million barrels a day. "Black gold" until it feels very uncomfortable. Rising on the eve of negotiations to $35, then the rate falls to $33.

The epidemic of the coronavirus, some countries even helps to solve their local problems. So, the consumption of energy in the world greatly reduced, hence the lower market value.

In a press-service of the Kremlin said the talks between Russian President Vladimir Putin with the American leader Donald trump and the king of Saudi Arabia Salman bin Abdulaziz al Saud on the situation on the world oil market. The talks were held in a telephone format.

The deal Russia and Saudi Arabia within OPEC+ reduction of oil production will cause a heavy blow to the Russian economy. This was stated by well-known economic analyst Mikhail Krutikhin, specializing in the oil and gas market.