MOSCOW, March 21. /TASS/. The global oil market is under negative pressure of artificial factors creating greater volatility, Russian Deputy Prime Minister Alexander Novak told reporters.
"The world’s oil market is currently under the unprecedented negative pressure of artificial man-caused factors, which create high volatility and uncertainty. These factors comprise the short-sighted energy agenda of Western nations, aimed at depriving traditional energy sector of investments, introduction of unlawful restrictions against free movement of energy commodities, and imposition of the embargo on supplies of oil and petroleum products," Novak said.
Attempts to implement the mechanism of price ceiling are no less dangerous, the official noted. "The risk of replicating such attempts leads to the collapse of the investment climate in cycling industries and affects consumers. The outlined set of politically motivated poor quality decisions creates material risks for energy security of the whole world," Novak said.
OPEC+ efforts in stabilizing the global energy market are important and responsible, the Russian Deputy Prime Minister noted.
"OPEC+ is an important and responsible instrument of market rebalancing, which makes decision consistently on the basis of fundamental indicators, rather than political messages," Novak said.