Tweets trump bring turmoil to the world oil market, said Novak

© RIA Novosti / Vladimir Fedorenkova in fotomancer of energy of Russia Alexander Novak. Archival photoTweets trump bring turmoil to the world oil market, said Novak© RIA Novosti / Vladimir Fedorenkova the image Bank

Emotional outbursts, statements, tweets from the US President Donald trump bring turmoil to the world oil market, in the end, today’s price is slightly inflated because of the emotions of the market participants, said Russian energy Minister Alexander Novak in interview to TV channel «Russia 24» at the forum «Russian energy week».

Leading reminded Novak of the phrase of the President of Russian Federation Vladimir Putin, which he delivered at the plenary session of the forum — «if you want to find the culprit of rising oil prices, Donald, you need to look in the mirror».

«Those emotional outbursts, statements, tweets that are coming from the US leadership, they bring confusion to the market. In principle, the market does not understand how to act, what will happen in the future. For example, here is the price, which currently is formed on the market, in my opinion, it is a bit higher relative to that, if it were not for these emotional outbursts,» commented Novak.

«We, by the way, at the panel session, which was here, in the fields of Russian energy week, which was attended by the Minister of Saudi Arabia and the OPEC Secretary General, said that today is not so much the balance of supply and demand generates prices in the world oil markets, but the emotions that are present today among the market participants. And what you said, it’s one of the reasons», — the Minister added.

The President of the United States Donald trump in his official Twitter account has twice been accused of OPEC in raising oil prices and required their reduction. He also stated that OPEC is «manipulating» the oil market and need to stop.

Russian energy week (REN) was held in Moscow from 3 to 6 October. MIA «Russia today» became the information partner of the event.