Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list

CERAWeek: Russia not joining OPEC, but wants relationship maintained - minister

Crude Oil

Platts launches assessments for US WTI, Eagle Ford crude oil for delivery to Europe

Crude Oil

Platts Wellscape GIS

Oil | Crude Oil | Oil Risk | Petrochemicals | Aromatics | Olefins | Petrochemicals Risk | Polymers | Solvents & Intermediates

S&P Global Platts University (at MEEPEC)


US to offer all available Gulf of Mexico waters for oil, gas leasing in March

CERAWeek: Russia not joining OPEC, but wants relationship maintained - minister

Russia is not seeking to become a member of OPEC, but will continue working closely with the producing group even after the ongoing supply cut agreement ends, Aleksey Texler, Russia's first deputy minister of energy, said Tuesday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"At present it is clear that the kind of cooperation that we're having will continue even if a slightly different format," Texler said through a translator at CERAWeek by IHS Markit. "The need to work together is obvious."

That work could look like the ongoing 2016 supply cut agreement OPEC launched with 10 non-OPEC allies led by Russia. This agreement has created a "new kind of a family" in the world oil market, Texler said.

OPEC and Russia will continue to maintain this relationship, which will include coordinating future market cooperation and potentially future technology policies, he said.

But this relationship will not need to be a formal arrangement, Texler added.

"I don't think there is a strong need to cement something or cut something in stone," he said.

He said the supply cut agreement has put restrictions on some projects in Russia, but said Russian producers remain focused on maintaining market share.

He added that growing US production poses a "risk" for that market share plan.

"Shale oil is always in our focus," he said.

-- Brian Scheid,
-- Edited by Jason Lindquist,