31 Oct 2022 12:38

Artificial regulation of oil prices to lead to reduction of investment in Russian oil sector - Alekperov

ABU-DHABI. Oct 31 (Interfax) - The introduction of a price cap for Russian oil will lead to a decrease in investment in the industry, Vagit Alekperov, a member of the bureau of the board of the Russian Union of Industrialists and Entrepreneurs (RSPP), told reporters on the sidelines of ADIPEC when asked about the impact of the price cap under discussion.

"Artificial price regulation leads to a distortion of the idea of the value of the product. Therefore, if the price is too low, investments will decline," he said.

"By how much? It's hard to say, no one understands yet. That is why we, the RSPP, insist that the market should be free," Alekperov said.