Report: Rosneft CEO says Russia does not offer oil at dumping prices - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Report: Rosneft CEO says Russia does not offer oil at dumping prices

MOSCOW, Mar 20 (PRIME) -- Russia is not engaged in predatory pricing on the oil market, CEO of Rosneft Igor Sechin told channel Rossiya 24 in an interview broadcast on Friday.

"We do not put dumping prices unlike them. This is why our efficiency maybe even higher," Sechin said. "We see the influence of a variety of political rather than economic factors."

Sechin also said that the OPEC plus agreement used to contribute to stability of the market.

In November 2016, OPEC and non-OPEC states including Russia first decided to reduce their oil output to rebalance the market, and agreed on additional reduction in December 2018. In July 2019, they prolonged the deal until April 2020. But on March 6, the countries failed to agree on parameters of the deal or on its prolongation, which resulted in a many years' record deep fall in crude prices.

End

20.03.2020 17:52
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 80.0937 -0.1752 14 jul
USD 70.7479 -0.4819 14 jul
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1234.50 -0.90 18:50 13 jul
micex 2766.79 -1.22 18:50 13 jul
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 196.75 -2.09 19:13 13 jul
lkoh 4967.50 -2.56 19:13 13 jul
rosn 357.15 -1.88 19:13 13 jul
sber 210.08 -1.04 19:13 13 jul
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 80.1250 -0.0800 14:59 13 jul
USDTD 70.6050 -0.0625 17:44 13 jul