The Russian Federation may lose its share in the energy market as it reduces oil production by implementing the OPEC+ agreement. According to the official, this statement was made by Russian President Vladimir Putin. Web site Kremlin.
On Tuesday, March 12, the head of state held a meeting with the winners of the annual competition “Leaders of Russia”. Some countries are currently increasing oil production, he said at the event. We are talking about powers that are not included in the OPEC + agreement.
According to Putin, this situation also applies to the USA. While Washington strengthens its leadership in fuel production, the Russian Federation risks losing its share in the relevant market. In such a situation, Moscow will lose the opportunity to invest in oil production and maintain its performance in this sector of the economy.
At the same time, the Russian leader noted that the participation of the Russian Federation in maintaining high oil prices on the global market is a plus for the United States. Otherwise, it would be unprofitable for American companies to continue production.
“Shale oil production in the USA would collapse because banks would not give them loans, we would develop markets and make investments, considering the unpromising nature of this production, but they would not do this,” Putin said.
Putin before promise Oil workers have 100 years of work ahead of them.