The head of the Russian Fund for Direct Investment Kirill Dmitriyev emphasized that the agreement of the Organization of Petroleum Exporting Countries (OPEC) and its new partners will support market stability and global oil prices.
“The agreement greatly supports oil prices, otherwise the price of a barrel would have fallen below 10 dollars,” Dmitriev was quoted by Sputnik as saying today in a private interview on CNBC. Prices on the market are exceptional.
The OPEC Plus countries reached a historic agreement yesterday, with wide international participation, to restore balance to the markets through an initial reduction of global oil production by 10 million barrels per day in May and June.
The new agreement comes after world oil prices witnessed a record decline in the past weeks, reaching the lowest level since 2002.
Source : Sana
