No grounds to expect oil prices to return to high levels - Peskov
MOSCOW. April 27 (Interfax) - There are no grounds to expect oil prices to return to high levels, but there is hope that the OPEC++ deal will prevent prices from collapsing and make fluctuations smoother, presidential press secretary Dmitry Peskov said.
"Yes, there are no grounds to expect price to return to high levels, but nevertheless, based on the results of the consensus, that is the OPEC++ deal, there are grounds to expect that after it enters into effect on May 1, it will make it possible to dampen or make price fluctuations smoother and avoid a price collapse," Peskov said in an interview with the Moscow.Kremlin.Putin television program.
Prices are indeed not high, "but they are not collapsing," he said. "We hope that the deal, which will come into effect on May 1, will keep them at an acceptable level. Yes, this level is lower than we would like it to be, but such a period cannot last forever, and demand for oil and petroleum products will certainly grow over time, and prices will trend higher," Peskov said