Sechin tells Putin that OPEC/non-OPEC cuts play into US hands

Author: Adam Button | Category: News

Igor Sechin letter

In a letter to Putin from the Executive Chairman of Rosneft, he argued against production cuts:
  • Cuts play into US hands
  • OPEC deal is a strategic threat to Russian oil sector
  • Russia is faced with market share decline
  • Letter doesn't directly address OPEC/Non-OPEC deal
  • Letter is undated
Reuters obtained a letter from Sechin to Putin. Oil has fallen 20-cents as it hits the wires. It makes continued cooperation between Russian and OPEC less likely.

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