Putin said the risk of a price spike in the oil market

US, WASHINGTON (ORDO NEWS) — A strong price surge in the oil market is inevitable if the industry is underfunded and work on new fields is stopped, said Russian President Vladimir Putin.

“This worries everyone, it should also worry consumers, because if the industry is underfunded and work in this area is stopped at new fields, then a surge, a very strong price surge in the market is inevitable, nobody needs it either,” Putin said at meeting with the government on Wednesday, talking about the situation with oil quotes.

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