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Putin says no fundamental grounds in place for dramatic oil price changes

The dialog between OPEC and non-OPEC countries brings positive results for Russia, the president noted

© Egor Aleev/TASS

MOSCOW, October 2. /TASS/. Oil prices have returned to their earlier level after the spike caused by the drone attack again oil facilities of Saudi Arabia because there are no fundamental preconditions at the moment for the oil price increase, Russian President Vladimir Putin said on Wednesday at the meeting with OPEC Secretary General Mohammed Barkindo.

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"The recent large-scale attack against oil infrastructural facilities in Saudi Arabia certainly provoked the oil price hike," the Russian President said. "Nevertheless, I was confident everything would return to current figures because there are no fundamental grounds for dramatic fluctuations on the market," Putin said.

There are no such grounds in particular owing to joint efforts of Russia and OPEC on the global market stabilization, the president said. The dialog between OPEC and non-OPEC countries brings positive results for Russia and for the whole global energy market, Putin added.

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