Report: Saudi Crown Prince sees Russia leaving oil mkt in 19 years

MOSCOW, Oct 8 (PRIME) -- Russia and some other states can disappear as oil producers until 2030, Bloomberg reported in an interview with Saudi Crown Prince Mohammed bin Salman released on October 6.

“Oil demand will continue raising until 2030 by above 1 percent, 1 to 1.5%, maybe more. And some believe that after 2030, it will decline. But we believe that the other side will be a lot of producers disappearing… Countries will continue every day to disappear as countries producing oil. 19 years from today, Russia will have declined heavily if not disappeared with 10 million barrels,” he said.

Igor Ananskikh, first deputy chairman of the energy committee of the State Duma, the parliament’s lower house, told PRIME that he sees no reasons for Russia to leave the global crude market in 19 years.

“There are no prerequisites for Russia to leave the oil market. Our reserves (are large enough), the companies invest actively in development,” he said.

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