Russian oil prices reported by Western agencies don't reflect real prices — ministry

MOSCOW:  Western price agencies are publishing Russian oil prices that do not correspond to the real situation on the market, First Deputy M...


MOSCOW:  Western price agencies are publishing Russian oil prices that do not correspond to the real situation on the market, First Deputy Minister of Energy Pavel Sorokin said on Wednesday.

"At the moment, Western price agencies are giving oil prices that do not correspond to the reality. It does not reflect not only the true value of the product, but also the true state of affairs on the market," he said.

According to him, Russia is working on forming domestic indicators. Sorokin believes that indicators should reflect the true value of the product.

Earlier, Deputy Finance Minister Alexey Sazanov said the Russian Finance Ministry will review oil price alternatives in Q1 of 2023. "We will analyze available price alternatives in the first quarter. Right now, we rely on Argus prices. Accordingly, we will look at the price provided by the St. Petersburg Exchange. We will look at its representativeness, liquidity, and then will decide," Sazanov said.


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Local Glob: Russian oil prices reported by Western agencies don't reflect real prices — ministry
Russian oil prices reported by Western agencies don't reflect real prices — ministry
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