Russian President Vladimir Putin told the national cabinet on Wednesday he was discussing the decrease in oil prices with the Organization of the Petroleum Exporting Countries (OPEC) and the United States, adding that key players should come up with a decision to improve the situation in the energy market
MOSCOW (Pakistan Point News / Sputnik - 01st April, 2020) Russian President Vladimir Putin told the national cabinet on Wednesday he was discussing the decrease in oil prices with the Organization of the Petroleum Exporting Countries (OPEC) and the United States, adding that key players should come up with a decision to improve the situation in the energy market.
"Of course, there is a very significant, a very serious and a very deep decrease in the prices for our key export product. We are discussing this with colleagues both inside the country and at the international level, with our OPEC partners, and I have just recently discussed this with the US president," Putin said, as quoted by the Kremlin.
Everyone, including consumers, should be concerned, since the possible lack of financing could result n a dramatic price surge, which "no one needs," the president went on to say.
"This is why we should elaborate decisions that can alleviate the situation in the market in general, jointly with key producers and consumers," Putin added.
