Rise of oil price may cause economic shock- Putin
Almaty. February 9. KazTAG -Vladimir Putin, President of Russia, in the interview to the Egyptian newspaper "Al-Ahram" declared that oil price may soar at one point, causing a real economic shock, reports the site of Russian President.
Putin indicated that the main risks of oil price fall are "loss of attractiveness of oil and gas field for the investors, who have to abandon development of technologically complicated fields, projects on infrastructure development, thus oil proposal will be gradually reducing on the market".
"It means that at one point powerful pricing correction invertedly may occur, turning into a real economic shock. Such shocks are not needed for oil manufacturers, consumer states and the world economy as a whole," he said.
"The budgets of many states are based on higher oil prices than we have today. The region is facing new challenges and adequate responses will need attraction of additional sources. The understanding that oil price needs stabilization is growing in the Near East, bringing balance to proposal and demand," said Putin.
He added «predictable and stable market of energy sources meets the interests of all states".