Putin's coordinated cut in crude oil Positive attitude to revive April 4 8:47
Putin, Russia, has been willing to revive collaborative cuts with major oil-producing countries, such as Saudi Arabia, in an effort to raise declining oil prices.
OPEC led by Saudi Arabia and the non-member oil producing nations such as Russia have been cooperating for three years to reduce production, but the spread of the new coronavirus has affected the global decline in crude oil demand. Last month, we cut off coordinated production and the oil price plummeted.
Under such circumstances, Russia's President Putin will hold a video conference with the Energy Ministers in Moscow on Tuesday, saying that "I would like to discuss reducing global production around 10 million barrels per day", and major oil-producing countries such as Saudi Arabia He showed a positive attitude to revive a cooperative system with Toshiba and to promote large-scale production cuts.
He further stated that he would raise oil prices, which are currently in the $ 20 / barrel range, to $ 42 by reducing production.
Energy Minister Novak, who attended the meeting, said, "A minister from oil-producing countries is scheduled to hold a telephone call this month," and said it is considering joining an emergency meeting called for by Saudi Arabia. Revealed.