Russia Says UAE's 'OPECxit' Won't Spark Immediate Price War
Russia Says UAE's 'OPECxit' Won't Spark Immediate Price War Russian Deputy Prime Minister Alexander Novak, quoted by the Russian news agency Interfax, downplayed fears that the UAE's planned OPEC exit will trigger an immediate oil price war and race to the bottom. "In the current situation, what kind of price war can there be when there is a shortage in the market?" Novak said, adding with the Strait of Hormuz remaining all but closed, "a huge amount of oil isn't reaching the mar...
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