Igor Sechin letter
In a letter to Putin from the Executive Chairman of Rosneft, he argued against production cuts:
- Cuts play into US hands
- OPEC deal is a strategic threat to Russian oil sector
- Russia is faced with market share decline
- Letter doesn't directly address OPEC/Non-OPEC deal
- Letter is undated
Reuters obtained a letter from Sechin to Putin. Oil has fallen 20-cents as it hits the wires. It makes continued cooperation between Russian and OPEC less likely.
