Teller Report

Medvedev compared the situation with oil futures with cartel agreement

4/20/2020, 9:28:11 PM

Deputy Chairman of the Security Council of Russia Dmitry Medvedev in his Facebook commented on the drop in oil futures.


“What we observe with respect to oil futures contracts is very reminiscent of a cartel conspiracy,” Medvedev wrote.

He noted that Russia offers to sell oil on a take or pay basis and is ready to discuss this option with partners.

Earlier, the cost of May futures for WTI crude oil fell by more than 136% and for the first time in history became negative. The price of June Brent crude futures during the auction fell to $ 25.70.