Reports that Saudi Arabia and Russia have been negotiating cutting oil production in exchange for the Kremlin changing its stance on Syria are untrue.The chairman ofthe Russian State Dumas International Committee Alexei Pushkov said no negotiations took place withSaudi Arabia todecrease oil production inexchange forMoscows refusal tosupport Bashar al-Assad.
Earlier, the New York Times said that Saudi Arabia may cut its oil production, which would lead toa growth inglobal oil prices, if Russia will refuse tofurther support the Syrian government led byBashar al-Assad. Higher oil prices, inturn, would help Russia totackle its economic problems, the New York Times reported.
There were no negotiations withthe Saudis todecrease oil production inexchange forMoscows refusal tosupport Assad. Hoax. Pushkov wrote onhis Twitter account.
The Saudi monarchy is atodds withal-Assad and is believed tobe backing anti-government rebel groups inSyria.
Previously, Syrian President Bashar al-Assad said inan interview withForeign Affairs magazine that Russia and Iran will continue tosupport Damascus, despiteeconomic difficulties caused bythe plunge inoil prices.
Global oil prices started toplunge last summer due tooversupply. Prices dropped further afterthe Organization ofthe Petroleum Exporting Countries (OPEC), whose 12 member states account forsome 40 percent ofworlds oil output, decided not tocut production inlate November. The decision was allegedly a bid tosqueeze cheap-oil producers outof the market. The Saudis, however, argued that the slump inoil prices reflected global supply and demand, stating that they would never use trade toinfluence geopolitics.
The Russian economy, likethe economy ofmany oil producing nations, is highly dependent onoil revenues and has slowed downin the pastmonths followingthe low oil prices.
By Sputnik News
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