“I believe that for markets that are in a very difficult situation, primarily because of a pandemic that caused not just stagnation, but in a number of countries, a rather serious decrease in gross product, this is probably the most rational option now,” - the deputy explained.
According to him, the most important thing is honest "the fulfillment by all parties to the agreement of the obligations that they assume."
“If these obligations are fully fulfilled, I am sure that the situation will gradually normalize. And I do not think that during the first month and a half we will see a strong increase in the price, maybe it will rise slightly on the news, but it is unlikely to be $ 35 per barrel. A little later, if the contracts are fulfilled, by the fall, I think that an interval of 40-43 dollars per barrel is quite possible, ”he concluded.
Earlier, Kuwaiti Oil Minister Khaled al-Fadel announced that OPEC + countries have signed an agreement to reduce oil production by 9.7 million barrels per day from May 1, 2020 by two months.