MILAN - Russian President Vladimir Putin does not rule out a theory that the ongoing decline in oil prices on international markets is a result of collusion between the U.S. and Saudi Arabia.
‘As concerns a conspiracy theory, conspiracies are always possible. But they backfire on conspirators, if such exist,’ Putin said at a press conference in Milan on Friday when asked about his attitude toward a theory that the oil prices are sliding as a result of a conspiracy between the U.S. and Saudi Arabia.
‘In the principal oil-producing countries, the budgets were drafted based on the oil prices of $85-$90 per barrel,’ he said.
Putin also suggested that the cost of shale oil production is quite high. ‘And the bear speculation on world markets would deal a very serious blow to this type of activity in the United States themselves. I don’t think the oil sector in the States is interested in this,’ he said.
‘Let’s see how the things develop. I think there’ll be some adjustment toward the situation’s improvement,’ Putin said.
