In addition, we suggest organising an international conference of the biggest oil producers and will invite OPEC and other producer countries to Moscow and the end of the year," Russia Today quotes Sechin as saying.
Author: Ksenia Kochneva
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Russia Will Offer A New Oil Pricing Method
Russia is going to propose a new method of oil pricing at an international conference in Moscow later this year, where major oil producers are planeed to be invited
The news was announced by Deputy Prime Minister, Igor Sechin.
Sechin said that the coefficients at which West Texas Intermediate (WTI) and Brent crude are traded are far from fairness, particularly with global reserves of oil and oil products growing.
“We propose to start moving to a new system of pricing. In this situation, given the large supply of oil and oil product commodity reserves – the problem of back-up reserves has particular significance.
In addition, we suggest organising an international conference of the biggest oil producers and will invite OPEC and other producer countries to Moscow and the end of the year," Russia Today quotes Sechin as saying.
Author: Ksenia Kochneva
In addition, we suggest organising an international conference of the biggest oil producers and will invite OPEC and other producer countries to Moscow and the end of the year," Russia Today quotes Sechin as saying.
Author: Ksenia Kochneva
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