32 minutes agoPutin announces the important decision they made with the Saudi prince of oil
Periskopi(7 years ago)
(7 years ago)Russia's President Vladimir Putin has said his country has reached agreement with Saudi Arabia to extend the agreement with organisation to six to nine months PEC for limiting the amount of oil produced at the global level. This agreement between two major fuel producers comes at the time [...]
This agreement between two major fuel producers comes at a time when oil prices are threatened by increasing production in the United States and slowing economic growth worldwide.
Saudi Energy Minister Khalid al-Fashih said Sunday that this agreement will most likely be extended for nine months and that there is no need for additional reductions in production.
Speaking after meeting with Saudi prince Mohammed bin Salman, Putin said ahead of reporters that the deadline of the agreement would be extended according to its current conditions and is about the same amount of production.
On the other hand, the United States, which is currently the world's largest oil producer, ahead of Russia and Saudi Arabia, is not participating in the OPEC agreement and is subsequently producing oil according to its policies, writes the Guardian”.
