Russian President Vladimir Putin warned about the exhaustion of oil. According to him, when the demand of the global market will grow on it, oil will be simply nowhere to take. This is reported by the correspondent “Renta.ru” from the meeting of the Discussion Club “Valdai”.
In OPEC + increase production volumes, but not all countries can quickly do, noticed Putin. “Not all oil-producing countries are able to quickly increase oil production. This is a long-term process, a big cycle,” he explained.
Earlier, Putin spoke about the planetary reserves of oil and gas in Russia. “If you look globally, the reserves of Russia are unlimited, planetary,” he stated.
The president does not exclude that oil can rise to 100 dollars per barrel. He added that Russia does not seek to limit oil production so that the cost of “grown to heaven.” According to Putin, all the actions on the energy market must be “smooth and balanced.”