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Three countries declared oil war to Russia

Three countries declared oil war to Russia
Photo: pixabay.com

Following Saudi Arabia, Iraq, Kuwait and the United Arab Emirates (UAE) declared the oil war of Russia. They announced discounts to the buyers of their oil.

According to Bloomberg, Iraq, for deliveries to Asia, is ready to lower April prices for raw materials by five dollars per barrel, Kuwait - by six dollars per barrel. The national oil company Abu Dhabi announced its intention to increase crude production in April to put pressure on its cost.

Earlier, Russia broke the deal with OPEC +, refusing to cut oil production. The Russian Federation advocated the extension of existing restrictions, and Saudi Arabia promoted a further reduction. The parties could not come to a single decision.

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