Russian fighters scrambled 14 times in past week to intercept foreign aircraft — ministryMilitary & Defense June 23, 6:17
EU summit participants show unity on anti-Russian sanctions — MerkelWorld June 23, 4:11
Moldovan parliament refuses to hold no confidence vote in Foreign Minister Andrei GalburWorld June 23, 2:03
Google.ru’s temporary ban should serve as reminder to others — lawmakerBusiness & Economy June 23, 1:59
Russian lawmaker slams EU’s decision to extend sanctions on Moscow as absurdRussian Politics & Diplomacy June 23, 0:32
IOC spokesperson confirms Bach’s words about possible sanctions on RussiaSport June 22, 23:27
Germany-Chile Confederations Cup encounter in Kazan ends with 1-1 drawSport June 22, 23:12
Putin praises Moscow International Film FestivalSociety & Culture June 22, 21:49
Russian football team getting ready for game with MexicoSport June 22, 21:38
MOSCOW, February 5. /TASS/. Russia’s ambassador to Saudi Arabia has dismissed media speculation linking the plunging oil prices to alleged conspiracy between Riyadh and the United States.
"Riyadh has repeatedly, including in public, and through its oil minister, rejected these allegations," Ambassador Oleg Ozerov said in an interview with TASS, speaking about Saudi Arabia’s oil policy.
The objective factors behind the falling oil prices are slower than expected economic growth in China and that the oil supply is much higher than demand, the Russian diplomat said, adding that the rest is an "interpretation of experts."
"One should rely on factors, and they are that the export of Saudi Arabia’s oil to the US at the moment is not higher than 5-6% from the overall hydrocarbons consumption by the Americans, while the total oil production of Saudi Arabia in the world balance hardly exceeds 10%," Ozerov said.
Saudi Arabia has repeatedly stated that it is not planning to meddle in the market pricing. "The Russian stance, based on the statements of President Vladimir Putin, is the same," the ambassador said.
"Other things, including the assumptions linking the oil prices to Russia’s changing position on a number of international and regional problems, including on the Syrian crisis, should be referred to the speculations of journalists," he said.
Ozerov stressed that Saudi Arabia is a rich and strong state that has gold and foreign exchange reserves worth $730 billion what allows it "surviving calmly the period of low oil prices."