Russian version of oil price reduction

The current decline of oil prices is temporary, said Rosneft Vice President and press officer Mikhail Leontyev in his interview to the Russian News Service.
He explained that one of the reasons of reduction of price is great discounts offered by Saudi Arabia. Leontyev believes that the discounts are used for “political manipulation”, which “could end badly” for the Near Eastern country.
Leontyev added that “oil stolen by the Islamic state’”, which is delivered to the market through Turkey and Israel with triple discount, also negatively affects price formation.
Rosneft Vice President believes that a great amount of US oil at the US market could have a long-term influence on the prices.
Earlier Russian former Finance Minister Aleksei Kudrin said that the current reduction of oil prices is a result of conspiracy of several main players of the market, including US and Near East countries. He believes that it is hard to claim who manipulates the oil market.
“There is a version that in the situation when Russia depends on a high oil price and is used to high oil price, the leading countries, such as importers, exporters , US and let’s say Near East, could have an agreement to increase production to maintain lower price,” Kudrin added.