Russian Defense Ministry surprised over German MPs reaction to Reichstag miniature plansRussian Politics & Diplomacy February 24, 16:32
Iraq's PM orders airstrikes on IS positions in SyriaWorld February 24, 16:09
Nord Stream 2 financing model to be ready by year end - OMVBusiness & Economy February 24, 13:44
Churkin left bright mark in history of Russian diplomacy, Lavrov saysRussian Politics & Diplomacy February 24, 12:20
Cargo spacecraft docks ISS in automatic modeScience & Space February 24, 11:58
Belarus to present to European Commission report on NPP stress tests' results - ministryBusiness & Economy February 24, 11:36
Funeral ceremony for UN Ambassador Vitaly ChurkinRussian Politics & Diplomacy February 24, 10:35
Moscow appoints acting permanent representative to UN after Vitaly Churkin’s deathRussian Politics & Diplomacy February 24, 8:25
Pentagon wants more senior-level talks with Russia on security of flights in Syria — mediaWorld February 24, 8:15
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