Russian lawmaker comments on US decision to end military subsidies to UkraineRussian Politics & Diplomacy May 24, 16:30
Nine Russian missile regiments rearmed with advanced ICBM systemsMilitary & Defense May 24, 16:01
Perm session completes cycle of regional offsite events in run-up to SPIEF 2017Press Releases May 24, 15:38
Ka-52 helicopters to have advanced weapon targeting systemMilitary & Defense May 24, 15:09
Amsterdam Court may look into appeal against Scythian Gold ruling in fallSociety & Culture May 24, 15:04
Russian ground forces to be fully rearmed with Iskander-M ballistic missiles by late 2020Military & Defense May 24, 14:58
Russian security chief calls for cooperation on cyber threatsRussian Politics & Diplomacy May 24, 14:34
About half of Russian Navy warships to be armed with Kalibr cruise missiles by late 2020Military & Defense May 24, 14:31
Stalin’s grandson passes away at 75Society & Culture May 24, 14:26
MOSCOW, December 18. /TASS/. Russian President Vladimir Putin does not rule out the possibility of a price conspiracy between Saudi Arabia and the US on the market of energy resources but says it is not possible to confirm the data.
“There’s a lot of talk around” in what concerns the causes for the slide of oil prices, he said at a major annual news conference. “Some people say there is conspiracy between Saudi Arabia and the US in order to punish Iran or to depress the Russian economy or to exert impact on Venezuela.”
“It might be really so or might be different, or there might be the struggle of traditional producers of crude oil and shale oil,” Putin said. “Given the current situation on the market the production of shale oil and gas has practically reached the level of zero operating costs.”
“If this rate is kept up, everything will fall apart (in the production of shale oil — TASS) and the prices will start climbing,” he said. “But we can’t tell this with a hundred percent assuredness.”
He believes the interests of the US Administration and main producers of oil may coincide at the moment because Washington treats investment in the production of shale oil by private companies very quietly.
“The main thing for us is the overall level of prices but the low price is kept for too long, the companies will stop investing in new deposits,” Putin said.