China News Agency, Beijing, April 5th, comprehensive news: Because Saudi Arabia and Russia have not reached a basic consensus on oil production reduction, the OPEC + (OPEC +) video conference that was originally scheduled to be held on the 6th of this month may be postponed.
RIA Novosti reported on the 5th that according to OPEC sources, Saudi Arabia has criticized Russia for blaming the oil price slump. In order to give both parties more time to negotiate, the meeting may be postponed until the 9th of this month.
The Associated Press reported that Saudi Arabia and Russia "dump the pot" to each other, making the atmosphere before the OPEC + meeting tense, which may jeopardize the conclusion of the oil production reduction agreement.
The Russian Presidential Office issued a notice on the 3rd that Russian President Putin said that when he hosted a meeting on the global energy market situation that day, Russia advocated that the energy market can be stable for a long time. Putin believes that the current sharp decline in oil prices is due to the spread of the new coronary pneumonia epidemic and the resulting reduction in demand for oil in various fields. In addition, Saudi Arabia ’s expansion of oil production and the provision of oil discounts are also one of the reasons for the decline in oil prices.
According to a report by the Saudi Arabian News Agency, Saudi Foreign Minister Faisal bin Falhan responded in a statement on the 4th that the Russian President ’s above remarks were “unsubstantiated,” and Saudi Arabia claimed that Russia is the party that caused the breakdown of the oil production cuts. .
The "crude oil price war" between Saudi Arabia and Russia has caused international oil prices to continue to plummet. "Russia Today" reported on the 5th that US President Trump said on the 4th that if necessary, the United States will impose tariffs on imported crude oil to protect local oil companies.
Trump previously said that in order to curb the continued decline in oil prices, he has talked to Saudi Crown Prince Mohammed bin Salman and Putin, and Saudi Arabia and Russia are expected to reach an agreement to reduce crude oil production by 10 million to 15 million barrels per day. But at the same time, Saudi Arabia and Russia hope that the United States will also reduce production, and Trump said that no concessions were made to the two countries.
As OPEC and non-OPEC oil-producing countries led by Russia failed to reach agreement on future crude oil production restrictions on March 6, Saudi Arabia, the world ’s largest oil exporter, immediately announced an increase in production and sharply lowered its official selling price. International oil prices fell sharply. The lowest level since 2002. According to Reuters analysis, affected by the epidemic, the global average daily demand for crude oil in April is expected to decrease by about 30 million barrels. (Finish)