According to the head of the Ministry of Energy, such emotional outbursts have no place on the hydrocarbon market.
The Minister of Energy of Russia, Alexander Novak, believes that today the price of oil is somewhat overestimated due to the excessive emotionality of market participants. As an example, he cited the tweets of President Donald Trump, who, according to the official, are causing confusion and shatter the situation.
Those emotional bursts, statements, tweets that come from the leadership of the United States – they bring confusion to the market. And in principle, the market does not understand how to act, what will happen in the future. For example, this is the price that is currently forming on the market, in my opinion, it is somewhat overestimated as to if there were not these emotional outbursts, said Novak in an interview with the Russia 24 TV channel.
Recall earlier a similar idea was expressed by Russian President Vladimir Putin. He recommended that his American counterpart Donald Trump “look in the mirror” in search of the culprit for the rise in oil prices.