The Russian Federation has discussed with the world exporters coordination on the oil market


Moscow. January 27. Russia’s representatives at the world economic forum in Davos, discussed with the world exporters coordination of action to influence oil prices, said Deputy Prime Minister Yuri Trutnev at the meeting of President Vladimir Putin with government members.

“There were a number of meetings with CEOs, government representatives and companies-exporters of oil, who say that they are not satisfied with the world price of oil. They consider that this price does not provide investments in exploration, field development, especially offshore,” said Trutnev.

“Talk about coordination in this part for the purpose of changing oil prices. Otherwise, after a certain period, you can face the shortage of energy carriers”, – said Deputy Prime Minister.

Putin’s press Secretary Dmitry Peskov said earlier that the Russian authorities do not discuss in practical terms the decrease in oil production due to unfavorable pricing environment. To speak in the applied plan on coordination of export also it is not necessary, he added.

Oil prices decline on Wednesday on fears of increasing fuel reserves in the United States. Quotations of March futures on the mark Brent on London’s ICE Futures exchange 14:09 MSK fell to $0,73 (2,30%) – to $31,07 per barrel. The contract prices for mark WTI for March in electronic trading on the new York Mercantile exchange (NYMEX) by this time has decreased on $1,15 (3,66%) to $30,30 per barrel.