: :inin Kyiv (EET)

Putin Urges Action on ‘Challenging’ Energy Market

Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address “challenging” oil markets, while U.S. President Donald Trump complained that oil cheaper “than water” was hurting the industry.Oil prices fell nearly 70% from January highs as coronavirus lockdowns hammered demand and as Saudi Arabia and Russia have flooded the market in a race for market share after a deal they engineered on supply curbs broke down.Oil and natural gas sales are a key revenue source for Russian coffers, while low prices are also hurting shale oil producers in the United States. Speaking at a …read more

Source:: Voice of America



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