The following is an excerpt from rt.com | December 28, 2015 |
Saudi Arabia has destabilized the crude market while increasing its oil output by 1.5 million barrels a day, said Russia’s Energy Minister Aleksandr Novak.
"This year Saudi Arabia has ramped up production by 1.5 million barrels per day, which in fact destabilized the situation on the market," Novak told Rossiya 24 TV channel.
According to him, the balance of oil supply and demand could be achieved in 2016. Iran’s return to the global energy market could also affect oil prices, Novak added.
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