Russia's energy minister says it is not part of the oil price war. Image via Business Insider.
Business

Russia not part of the oil price war, says energy minister

Pavel Sorokin, Russia's deputy energy minister, has stated that the country is not in an oil price war with Saudi Arabia and will not be reducing production due to market uncertainty caused by the coronavirus outbreak. Sorokin revealed that Russia can up its oil output to 11.8 million barrels per day, but it would still not be sufficient to match Saudi Arabia's promised supply of 12+ million BPD in April.

saudi-arabia energy oil russia outbreak price market war minister coronavirus supply barrels

Thu Mar 12 - Reuters

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