The price war that began between Moscow, Riyadh and Washington threatens the beginning of a $ 20-a-barrel oil barrel, Sputnik reports.
“These three pillars – the United States, Russia, and Saudi Arabia started this issue. This hegemony has now affected the oil market and other oil-producing countries. Signs of bankruptcy are everywhere. There is no clear prospect of rising prices. ” .
Other oil producers will suffer from the current situation, which is also related to the coronavirus virus, Nihon Kizai said.
Venezuela, for example, has asked the IMF for $ 5 billion to fight the disease. Iran has also been requesting assistance from the IMF for the first time since 1962. The magazine points out that Iran is the second largest OPEC country in oil production, yet it is subject to US sanctions.
The oil price war has dealt a huge blow to African countries for oil production, the newspaper writes. Russian President Vladimir Putin is closely monitoring the US shale issue. American oil is unlikely to compete with Saudi Arabia. ”
It should be noted, however, that market fluctuations began on March 6, when OPEC + countries failed to reach a new agreement. Russia did not agree with its OPEC + partners on joint efforts to stabilize the oil market due to the impact of the coronavirus.