Putin uncertain about future of global oil market

TEHRAN, Mar. 27 (MNA) – Russian President Vladimir Putin said on Saturday that he has “no idea how the world energy market is going to react” to the toughening of sanctions against Iran.

He hoped that Iranian oil exports would continue despite Washington’s efforts to stop them.

Washington has demanded that buyers of Iranian crude halt purchases by May 1 or face sanctions, a move to choke off Tehran’s oil revenues.

The United States expects Saudi Arabia and its Persian Gulf allies to boost output in order to offset the cut in Iranian supplies.

Putin, however, while in Beijing to attend an investment conference, said he was unaware of any Saudi intention to increase production.


News Code 144579


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