Russia had to fulfill the ultimatum of Saudi Arabia

Russia is forced to surrender to the ultimatum of Saudi Arabia.

After the official Riyadh delivered an ultimatum to Russia, demanding to reduce the volume of oil production in the country by 1,5 million barrels per day, threatening a new collapse in the cost of raw materials, it became known that Russia had to agree to the demands of Er- Riyadh and even reduce production in excess of the stated requirements, reducing it by 1,6 million barrels.

“Russia can reduce production by about 1,6 million barrels, or 14% from the level of the first quarter (11,3 million barrels per day, according to the Central Dispatch Department of the Fuel and Energy Complex), according to a source close to the Ministry of Energy. “The country is ready to cut production in proportion to its share in total production, and taking into account a joint decrease of 10 million barrels. per day, ”he says. The representative of the Ministry of Energy confirmed this "- приводит RBC data.

Apparently, the decision on this matter was made rather hastily, since already today the OPEC + countries will begin to discuss the further fate of oil production, and if for some reason it is not possible to reach an agreement, the price of oil may fall to the level of $ 15-17 that will simply bring down the Russian economy.

There are no official comments on this subject yet, however, obviously, the results of the negotiations will become known within the next few hours.