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Date: 3 months ago   Category: Politics

"In 19 years Russia will leave the oil market". Experts have doubted the forecast of the crown prince of Saudi Arabia


Muhammad bin Salman Al Saod.
The same fate waits also for China, only in five years, Muhammad Al Saod in an interview of Bloomberg has told. What stands behind statements of the crown prince? Muhammad bin Salman Al Saod. Photo: Reuters In 19 years oil production in Russia will considerably be reduced if the country doesn't disappear from the world market of producers of oil at all. It the crown prince of Saudi Arabia Muhammad Al Saod has said in an interview of Bloomberg. According to him, the same fate waits also for China, only in five years. What stands behind statements of the crown prince? Alexander Pasechnik the head of analytical management of National Energy Security Fund "I after all is inclined to believe that there are more lyrical contextual digressions. Considering that he had to comment, in fact, on the conflict with Trump, to advocate some family interests in the plan that Saudi Arabia won't hold on also several weeks without the aid of the USA, respectively, the further interview was already under construction on such general principles though this national background remained, and, probably, from here these statements. Plus still attempt to show that Saudi Arabia — the strategic leader of oil industry. He built an interview on this basis. And why 19-year cycle? Too it is very strange why not 20 years? From where these figures? It is very doubtful that they have some academic soil. So let's see after all objectively things". The head of the analytical department of the BKS financial group Maksim Shein doesn't see any fundamental justification for statements of the crown prince Saudi Aravii:maksim Shein the head of the analytical department of the BKS financial group "Russia really has a problem of inevitable decrease in production on old fields, they are developed. But it doesn't mean that at the current production level these stocks will be completely developed in 20 years or are exhausted to such an extent that Russia will be able only, conditionally speak, to close requirements of domestic market. It is unclear, on what this quite courageous statement is based. If many countries as he speaks, leave the market, then oil will cost so many that those projects which are winded down now — shelf, some sands and so on that now is extremely expensive to be developed will become profitable. If oil is 200 dollars, just many fields will become profitable. I don't see behind it any serious practical, fundamental reason to draw such conclusions". Now Russia extracts more than 500 million barrels a year. 250 million go for internal consumption, 250 million more barrels — for export. That it has stopped, oil production has to be cut by half, and it will definitely not occur, experts are sure. To add BFM.ru to your sources of news?

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