Russian Knights aerobatic team to perform at Dubai airshowMilitary & Defense July 20, 21:28
Russia looks to its Navy to become world secondMilitary & Defense July 20, 19:10
ExxonMobil disagrees with US Treasury Department’s decision to assess fineBusiness & Economy July 20, 18:45
Putin signs decree on Russia’s navy policy until 2030Russian Politics & Diplomacy July 20, 18:39
Putin personally congratulates human rights champion Alexeyeva on her 90th birthdaySociety & Culture July 20, 18:20
Russian boxer Povetkin reinstated into WBO’s ratings, ranked eighthSport July 20, 18:08
Russia’s Syria campaign spending within current combat training costs — Defense MinistryMilitary & Defense July 20, 17:59
Putin says 80% of Russians friendly to people from different ethnic groupsRussian Politics & Diplomacy July 20, 17:51
Russia to develop cruise missiles capable of striking targets at 1,000km rangeMilitary & Defense July 20, 17:42
MOSCOW, November 6. /TASS/. Russian President Vladimir Putin said Thursday there is a feeling that politics sometimes prevails in the pricing of energy resources.
“A political component is always present in oil prices. Furthermore, at some moments of crisis it starts to feel like it is the politics that prevails in the pricing of energy resources,” Putin said in an interview with the leading Chinese media outlets.
“Another negative factor is the lack of distinct direct link between the physical oil markets and the financial platforms where the trade is conducted,” he said.
“At the same time, the derivatives greatly increasing the volatility of oil prices are being actively used. Unfortunately, such a situation creates the conditions for speculative activity and, as a consequence, for manipulating the prices in someone's interests,” Putin said.
“Of course, the obvious reason of the decline in global oil prices is the slowdown in the rate of economic growth which means energy consumption being reduced in a whole range of countries,” he said.
“Moreover both strategic and commercial oil reserves in developed countries are at their highest levels in history. There is also an impact of innovations in the technology of oil production which led to the new volumes of hydrocarbon entering the regional markets,” Putin said.
Read the full interview