The President of Russia Vladimir Putin long talks with his American counterpart Donald trump about the situation in the oil market. On 13 April, the journalists said the speaker of the Kremlin, Dmitry Peskov, reports TASS.
According to him, the leaders of Russia and the United States “been to communicate in a very constructive way.”
“At the moment, is absolute, so to say, the coincidence of interests of two countries to integrate actions to stabilize oil markets, of course, dictates the need for more frequent communication”, – said Peskov.
The speaker of the Kremlin added that the two leaders “communicate for long periods of time, communicate openly, constructively, effectively and efficiently”.
At the same time, Peskov believes that frequent contact between Putin and trump mean warming of relations between their countries.
The signing of the agreement OPEC+ was delayed from April 9 because Mexico refused to join him and reduce production by 400 thousand barrels per day. In the end, Mexico will reduce production at 100 thousand barrels, a decrease by 250 thousand barrels instead of Mexico will provide the US.
The agreement OPEC+ was achieved after a month after the termination of the previous transaction that triggered a record drop in the price of raw materials. By 9 March the price of Brent crude oil has fallen by 30% – up to $33 per barrel, the biggest daily drop since 1991, when the war began in the Persian Gulf. On 30 March the price of Brent crude fell below $23 a barrel.
On the background of unsuccessful negotiations Saudi Arabia, Vinitsa in the failure of the deal Russia has decided “to join total price war” and increase production from 9 million to 12 million barrels per day. 1 APR prices on the oil market began to rise amid expectationsthat Russia and Saudi Arabia will reduce production volumes. However, the negotiations stalled because of a public squabble between the authorities of the two countries on the causes of the dissolution of the agreement OPEC+. So, Russian President Vladimir Putin expressed the view that Riyadh is out of the transaction to eliminate competitors who produce shale oil. The Minister of foreign Affairs of the Kingdom, Prince Faisal bin Farhan al Saud has called the President’s words “completely devoid of truth”.
In General, over the past year, the crude oil Brent fell to 53,96%, and WTI – to 61,93%.