An agreement to reduce oil production
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| An agreement to reduce oil production |
Peskov warned of price chaos without a deal to reduce oil production
The agreement of the OPEC + countries to reduce oil production is needed throughout the world so as not to be on the verge of uncontrollable chaos with prices. This was announced by the press secretary of the President of Russia Dmitry Peskov in the program “Moscow. Kremlin. Putin "on the channel" Russia 1 ".
“If in the end there is no such deal, then the global economy will be on the verge of uncontrollable chaos with energy prices,” he said.
According to him, oil prices affect not only Russia, but also the United States. Peskov said 10 million people could be left without work in the United States if shale oil companies are in danger of bankruptcy. In this regard, concern for this sector of the economy is becoming a priority for US President Donald Trump, a spokesman said.
He said that a telephone conversation between Trump and Russian leader Vladimir Putin, during which the oil deal was discussed, took place on April 10 at the initiative of Washington.
On April 9, the OPEC + video conference was held to reduce oil production. Previously, the negotiators agreed to reduce production, but postponed the adoption of the final decision because of the position of Mexico. She did not want to reduce production in the volumes proposed by other states. As a result, the United States helped resolve the contradiction and took on part of Mexico’s obligations in the amount of 250 thousand barrels per day.
According to the head of the Ministry of Energy of Russia Alexander Novak, 23 countries entered the deal. He noted that the agreement will continue until May 1, 2022. The parties agreed to reduce production by 10 million barrels. per day from May to June, and then the reduction will be 8 million barrels. In 2021, the quota will be limited to 6 million barrels.
The next OPEC + Ministerial Conference will be held on April 12.
“If in the end there is no such deal, then the global economy will be on the verge of uncontrollable chaos with energy prices,” he said.
According to him, oil prices affect not only Russia, but also the United States. Peskov said 10 million people could be left without work in the United States if shale oil companies are in danger of bankruptcy. In this regard, concern for this sector of the economy is becoming a priority for US President Donald Trump, a spokesman said.
He said that a telephone conversation between Trump and Russian leader Vladimir Putin, during which the oil deal was discussed, took place on April 10 at the initiative of Washington.
On April 9, the OPEC + video conference was held to reduce oil production. Previously, the negotiators agreed to reduce production, but postponed the adoption of the final decision because of the position of Mexico. She did not want to reduce production in the volumes proposed by other states. As a result, the United States helped resolve the contradiction and took on part of Mexico’s obligations in the amount of 250 thousand barrels per day.
According to the head of the Ministry of Energy of Russia Alexander Novak, 23 countries entered the deal. He noted that the agreement will continue until May 1, 2022. The parties agreed to reduce production by 10 million barrels. per day from May to June, and then the reduction will be 8 million barrels. In 2021, the quota will be limited to 6 million barrels.
The next OPEC + Ministerial Conference will be held on April 12.