Russia’s Sechin Says China, Not OPEC, Calls Shots on Global Energy Markets
9 Articles
9 Articles
Russia Says China, Not OPEC, Is Driving Global Oil Market Stability
Igor Sechin, chief executive of Russia’s largest oil producer Rosneft, said China has taken a leading role in stabilising global oil markets, arguing that Beijing’s influence is increasingly outweighing that of OPEC. Speaking at a Russian Chinese business forum in Vladivostok, Sechin said China had reduced its crude oil imports by 5.5 million barrels per […]
Al-Monitor
Russia’s Sechin says China, not OPEC, calls shots on global energy markets
VLADIVOSTOK, Sept 4 (Reuters) - Igor Sechin, chief of Russia’s top oil producer Rosneft, said on Thursday that China, not OPEC, has stabilized global oil markets by reducing crude imports by 5.5 million barrels per day this year.Sechin, the most influential Russian energy manager and a long-standing ally of President Vladimir Putin, was speaking at a Russian - Chinese business forum in the far eastern city of Vladivostok.
It stabilized "the global market by cutting its imports by 5.5 million barrels per day."
Igor Sechin stressed that China, by reducing oil imports by 5.5 million barrels per day in 2024, has played a decisive role in stabilizing the global market, surpassing the role of OPEC.
Crypto Briefing
Cryptocurrency News | Cryptocurrency Prices | Market CapSechin: China, not OPEC, now dominant in global energy markets
China's growing influence in energy markets may reshape global oil dynamics, potentially driving future price increases and market shifts.
China helped stabilize the oil market against the backdrop of the crisis in the Strait of Ormuz, reducing imports by 5.5 million barrels per day, said the responsible secretary... ~ 04.09.2026, PRIM
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