According to him, at present the oil markets are influenced by negative events: the coronavirus epidemic and the decision of the countries - members of the organization of oil exporters to withdraw from the agreement to reduce production.
“In this regard, I would like to note the following. First: it was not we who initiated the withdrawal from this agreement. On the contrary, we proposed to extend the agreement on existing terms at least until the end of the second quarter or for a year, including so as not to complicate the situation that has developed with the spread of coronavirus, ”he said.
As the Prime Minister emphasized, Russia's position was “absolutely verified and justified.”
“Demand for energy has already been reduced due to a slowdown in the global economy and a reduction in international trade,” Mishustin explained.
He recalled that OPEC countries decided not to extend the agreement “at current levels,” and Saudi Arabia, as the leader of OPEC, announced “an unprecedented decline in oil prices and an increase in production to record levels, which led to a drop in markets.”
On March 9, the main US stock indices opened with a 7% drop, while oil prices fell 30% amid the collapse of the OPEC + deal.
US leader Donald Trump called the cause of the fall in markets a “dispute” between Saudi Arabia and Russia on the price and level of oil production, as well as “deceitful media”.
As Russian First Deputy Prime Minister Andrei Belousov later noted, there are currently no signs of a “second wave” of decline in the markets.