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The Kremlin said on Monday that it is in the interest of the global energy industry to support the prices of oil and petroleum products, a day after Russia announced that it will extend its 500,000 barrels per day (bpd) cut until the end of the year. in its oil production.
Russia is part of the OPEC+ group of producing countries that announced combined cuts of about 1.16 million bpd in a surprise move on Sunday that the United States described as unwise.
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Asked about the US criticism, Kremlin spokesman Dmitry Peskov told reporters: “In this case, it is in the interests of world energy to maintain world prices for oil and petroleum products at the appropriate level. This is what you need to focus on. And whether other countries are satisfied or dissatisfied — that’s their own business.”
Peskov said it is important to keep prices at a certain level because the sector is investment-intensive and because in the foreseeable future it is not possible to meet all countries' needs from renewable sources.
Asked whether Russia had coordinated its actions with OPEC+, he said: “Russia is in constant contact with several OPEC+ states, this is a normal process, but nothing more. In this case, countries have an independent line, an independent interest in stabilizing the market.”
Source: Notícias Agrícolas
