Photo: Evgeny Odinokov / RIA Novosti
Russian President Vladimir Putin said that the US oil production at prices below $ 40 per barrel may prove to be unprofitable. It is reported by RIA Novosti.
“If the price of oil, say, below $ 40 fall, the profitability of production and production growth in the United States will be called into question”, — he stressed.
In this case our country, according to the President, such a scenario is not threatened. Putin noted that Russia’s oil and gas is much cheaper than in the US, Europe and the Middle East.
The Russian leader also noted that the method of hydraulic fracturing, which uses U.S. is the most environmentally harmful.
Earlier, on 8 April, Brent crude oil rose above the psychologically important mark of $ 70 per barrel. These values are the maximum from the beginning of November 2018.
Video, photo All from Russia.