Brexit Unlikely to Trigger Action by Major Oil Producers - Energy Ministry

© AP Photo / Nabil al-JouraniOil workers are seen at the West Qurna Phase 2 field in the Basra region, 550 kilometers (340 miles) southeast of Baghdad, Iraq
Oil workers are seen at the West Qurna Phase 2 field in the Basra region, 550 kilometers (340 miles) southeast of Baghdad, Iraq - Sputnik International
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Major oil producers do not need to take further action after the United Kingdom voted to exit the European Union, Russia’s First Deputy Energy Minister Alexei Teksler said Friday.

Oil production. - Sputnik International
Oil Prices Grow as Polls Show Brexit Scenario Less Likely
MOSCOW (Sputnik) – Teksler added that the British referendum is unlikely to trigger special measures in natural gas delivery projects, including the proposed Nord Stream-2 pipeline into northern Europe.

"We do not believe that major producers must take additional steps to stabilize the situation at this stage," Teskler told RIA Novosti following the so-called Brexit vote that sent markets in a tailspin.

He forecast higher short-term oil price volatility worldwide, but stressed that the market would rebound after a realistic analysis of the Brexit's outcomes.

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