Peskov argued that it is important to keep prices at a certain level
The Kremlin announced today that it is in the interest of the global energy industry to support oil prices and oil products, a day after Russia announced it would extend until the end of the year a cut in oil production of 500,000 barrels per day.
Russia is a member of the OPEC+ oil-exporting alliance, which announced combined cuts of about 1.16 million barrels a day in a surprise move on Sunday that the US called unwise.
Asked about the American criticisms, the Kremlin spokesman Dmitry Peskov told reporters: “In this case, it is in the interest of world energy to keep the world prices for oil and oil products at an appropriate level. That’s what we have to focus on. Whether other countries are satisfied or not – that’s their business.”
Peskov argued how important it is to keep prices at a certain level because it is an investment-intensive sector and because in the foreseeable future it is not possible to meet the needs of all countries from renewable energy sources.
Asked if Russia has coordinated its moves with OPEC+, Peskov said: “Russia is in constant contact with a number of OPEC+ countries, this is a normal process, but nothing more. In this case, the countries have an independent line, an independent interest to stabilize the market.”
Source :Skai
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