Market Analysis

Russian President Dmitry Medvedev said that the procedure for pricing in the oil market is far from optimal, and Russia and the countries - exporters of petroleum (OPEC) will coordinate this issue. He said this at a press conference after talks with the President of Angola, which currently chairs the OPEC.
This procedure

complex, opaque, and may entail major changes, sometimes dramatic changes in oil prices - at times, said Medvedev.

World oil prices, in the midst of a global crisis, falling to 40 dollars per barrel in June, holding near $ 70 mark. However, it is still less than half the record 140 dollars, which gave a barrel of black gold in July 2008. This is certainly reflected in the oil market and the interests of consumers and the interests of producers and ultimately affect the global economic development, - said the president of Russia.

In this regard, he considers it very important collaboration with OPEC. According to Medvedev, Russia and OPEC will coordinate the pricing of oil. Coordination between the states of the one hand and the Russian Federation on the other hand on the oil market, including pricing, in my opinion is very important and relevant - the president said.

It remains to be done, but we must continue this work and we are not entirely satisfied with the situation, which is today the market - said Medvedev. The market of oil should not depend on the situation in one economy, - considers the head of the Russian state.

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