Russian President Vladimir Putin said on Wednesday that "energy prices are approaching economically justifiable levels, and Russia continues to fulfill its obligations regarding energy supplies." In a speech at the Eurasian Economic Union conference, he also addressed the issue of energy shortages in Europe, asking, "Now, energy prices are approaching levels that are economically justified, but who is to blame for what has happened?"
Oil prices rose on Wednesday following a decline in crude and fuel supplies in the United States and after a warning from Saudi Energy Minister Prince Abdulaziz bin Salman, who raised the possibility of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, known as OPEC+, announcing further production cuts.
