Despite the shock fall in oil prices, Russian officials remain confident that stepping away from the OPEC deal was a wise decision and largely blame their OPEC partner for refusing to reach a compromise. According to an official statement, the Russian side offered to preserve the production cuts already in place until the second half of 2020 “in order to better understand the impact of the coronavirus on the global economy and oil demand.” However, the statement continues, “our OPEC partners decided to increase oil production and start a fight for market share.”

Read Here – Asia Times