| Igor Sechin, a Kremlin heavyweight and chief executive of Russia's top oil producer Rosneft, said Monday that Russia had received and rejected an offer to join the Organization of the Petroleum Exporting Countries, the TASS news agency reported.
The negotiations that are going on between Russia and OPEC are quite positive and lead to an exchange of opinions. OPEC proposed that Russia become a member, Sechin told participants at a conference in Singapore, according to TASS. [But] for Russia there's no point in joining this organization, he said. There had been speculation that Russia could join OPEC to help coordinate production cuts in an attempt to buoy oil prices that crashed last year and are now hovering at five-year lows...............................................Full Article: Source
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