OPEC countries + increase oil production, but not everything is able to do it quickly, said Russian President Vladimir Putin during the plenary session of the International Discussion Club “Valdai”.
“We have OPEC countries today increase production volumes, even a little more than agreed to do this, but it can not do everything …”, “Putin said, reminding that in 2012-2016 annual investments in oil production There were about $ 400 billion, and in recent years they have decreased to 260 billion
“Political cycles in leading economies do not coincide with investment cycles, including in such an most important industry as energy. Political cycle What? Four to five years. What do the leading political forces, parties and individual political figures do? They promise, promise everything and fell as much as possible. This is due to the green energy. And what is the result of what? Banks cease to credit investments, investments are reduced. The moment when it seems to be the market, the market will require fuel, And he just will not immediately take, “Putin added.