Russia Blames Saudi Arabia For Destabilizing Oil Markets

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Dec 28th 2015, 21:00

TASS: Russia's energy minister blames Saudi Arabia for destabilized oil market

According to Alexander Novak, Saudi Arabia increased its oil production by 1.5 mln barrels per day

MOSCOW, December 28. /TASS/. Saudi Arabia has destabilized oil market by increasing its oil output by 1.5 mln barrels per day, Russia's Energy Minister Alexander Novak said in an interview with Rossiya 24 TV channel.

"This year Saudi Arabia has ramped up production by 1.5 mln barrels per day, which in fact destabilized the situation on the market," - he said.

Update: Saudi Arabia is being hurt by low prices .... Saudi Arabia budget deficit swells on oil price fall (BBC). And I predict that these new price increases on Saudi consumers is not going to go over well in the Kingdom .... Saudi to boost petrol prices by more than 50% (AFP).

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Russia Blames Saudi Arabia For Destabilizing Oil Markets

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KEEP SCROLLING TO THE END ...WE STILL GOT LOTS MORE .......

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