Russia, OPEC could boost oil production to fight for market share with U.S. - Minister

Russia, OPEC could boost oil production to fight for market share with U.S. - Minister
  • Clock-gray 19:05
  • calendar-gray 13 April 2019

Russia and OPEC may decide to boost production to fight for market share with the United States but would see oil prices drop to as low as $40 per barrel, Russia’s Finance Minister Anton Siluanov said, ONAreports citing ITAR-TASS.

Speaking in Washington, Siluanov said that oil prices could drop to $40 per barrel or even lower for up to one year if the output cut deal is abandoned.

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