Oil prices: Russian President Vladimir Putin has shown great concern for the first time. Its national budget depends heavily on the oil price, but Saudi Arabia is planning an offensive.
- Russian President Vladimir Putin was concerned about the fall in the price of oil.
- The oil price is falling steadily, a price jump seems inevitable.
- Saudi Arabia could benefit from the planned increase in production.
Putin worried: phone call with Donald Trump - "relax situation in the market"
It was the first time that Putin was so concerned . The pressure on the market is also immense in view of the price war with Saudi Arabia. The state budget depends on the proceeds from oil sales . "That is why we have to make decisions together with the main producing countries and users that ease the overall situation on the market," said Putin. Russia also advocates limiting oil production. This week, the Russian president also contacted US President Donald Trump * over the phone to discuss oil prices.
Kremlin chief Putin warned that the oil business could soon be underfunded due to the prices. In addition, work could be stopped at many funding agencies. "Then a very strong price jump becomes inevitable - and again nobody needs that," he said.
Putin worried: Saudi Arabia plans market offensive - demand slump due to Corona?
Most recently, oil prices have dropped significantly. On Wednesday afternoon (April 1), a barrel (159 liters) of the North Sea type Brent shipped in June was $ 24.84, $ 1.51 less than the previous day. Russia, however, has budgeted around $ 42 for this year.
US President Trump had previously held talks between Saudi Arabia and Russia oil -producing nations involved in a price war. But prices will also remain low in April. According to the latest information, a significant increase in production is planned in Saudi Arabia . At the same time, demand is expected to continue to collapse due to the corona pandemic *.