Particle.news

Download on the App Store

Putin Warns Oil Above $100 Without Russian Supply at Valdai Forum

His Valdai remarks stressed Russia's outsized role in keeping oil prices in check.

Overview

  • He said global energy needs will continue to be met regardless of disruptions in supply.
  • He warned that removing Russian volumes from the market would send crude prices above $100 a barrel.
  • He noted the United States as the largest oil producer, with Saudi Arabia and Russia following.
  • He argued that global economic growth will raise demand for primary fuels, including uranium, oil, gas and coal.
  • The comments were delivered in Sochi at a Valdai Club session on October 2, according to RIA Novosti.