Sechin: Saudi Arabia selects a losing strategy
Edited by Rhod Mackenzie / 2015-11-06 11:58:32
Saudi Arabia, which is trying to increase oil production volume amidst low cost of oil, has chosen a losing strategy, the head of “Rosneft” I.Sechin says.
According to the head of the oil company, even now Riyadh has to use the money from the sovereign funds and reserves in order to compensate for the losses of oil revenue. Sechin said that Saudi Arabia applies for foreign loans, and has to establish severe measures for budget savings.
