Vladimir Putin said Friday that the global economy would collapse if the oil price was allowed to remain at around $80 a barrel for too long. At a press conference following talks on the Ukrainian crisis in Milan, Italy the Russian president warned that prices as low as $80 a barrel would cause US oil production to crash as well as putting pressure on the rest of the global economy. He said: $80 a barrel would not be in the interest of any major players. This level is not in anyone’s interest. The global economy would suffer. Oil prices below …read more
Source: Business Insider