The current level of oil prices stems particularly from the US trade war, Russia’s Energy Minister Alexander Novak said Friday.
"Those (oil price decline - TASS) are negative signals for the global economy. Crude prices are volatile and respond to existing general signals. The current prices reflect trade wars statements as well," he explained.
A sharp drop in crude prices started on July 11, as the price of Brent crude oil decreased by $4 on the day to $73 per barrel.
Oil production
Russia restored oil production by 80% in July against the reduction volume within the OPEC+ agreement, he added.
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Oil rises after US inventoriesMaintained and developed by Arabs Today Group SAL.
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Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
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