Vakhtang Iobashvili, head of the Oil Importers Union, says that the seven largest OPEC nations could double their oil production.
In his words, if this happens, fuel prices in Georgia will also start to drop.
I am glad that the seven largest OPEC oil producers to double their output in about a month. This move is aimed at filling the existing gap in global oil supply.
Stock replenishment will cause price cuts in the near future.
"As you know, Platts policy is universally applied, and without it, no country can supply us with oil. While we're used to volatility in the oil market, I want to assure you that we will never experience a fuel shortage," Vakhtang Iobashvili pointed out in air of Commersant radio.
