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Putin: global energy consumption fell by 4,7% in 70 years

Putin: global energy consumption fell by 4,7% in 70 years
Photo: freeze frame of the REN-21 broadcast

Russian President Vladimir Putin said that global energy consumption has fallen by 4,7% over the past 70 years. He called this decline the largest in history.

The head of state said this during the plenary session of the Russian Energy Week International Forum, which opened today in Moscow. Putin clarified that the cost of natural gas fell 2,5 times, and the demand for oil fell due to the coronavirus pandemic, and production fell.

According to the president, he expects that the OPEC + agreement will be in effect until the end of 2022.

“Long-term stabilization of the energy market is especially important in the current difficult situation,” Putin added.

The International Forum "Russian Energy Week" takes place in Moscow from 13 to 15 October. The event is organized by the Roscongress Foundation, the Ministry of Energy of the Russian Federation and the Moscow government.

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