Lavrov: the old mechanisms of regulation of prices on hydrocarbons do not work

Lavrov: the old mechanisms of regulation of prices on hydrocarbons do not work


The markets affected by many factors that at this point it is important to understand what is happening in the markets of hydrocarbons, said the head of Russian foreign Ministry Sergei Lavrov.

MUSCAT, 3 Feb. The old pricing mechanisms in the oil and gas markets don’t work, it’s clear to both Russia and OPEC, says the Russian foreign Minister Sergei Lavrov.

“We believe that at this stage it is important to understand what is happening in the markets. The markets affects a lot of factors, and the old mechanisms are not likely to work. I think we all understand it,” said he in Oman.