According Sechin it's the United States not to OPEC that controls the global oil market. "OPEC is no longer the regulator, its meeting on October 21 [with non-OPEC members] did not bring any decisions," according to Sechin.
Last week, the head of Russia's biggest oil company said Riyadh has been actively dumping and cutting prices to secure its share of the market and gain new ones. Some European countries are now buying Saudi oil for the first time.
Speaking about trends in the global energy market, Sechin said that Europe's share of world energy consumption will decrease from 19 percent in 2015 to 16 percent in 2030.
#OPEC no longer oil market key regulator, US is - Rosneft CEO http://t.co/3t0YrksR4S pic.twitter.com/WPgyI13NpY
โ RT (@RT_com) October 13, 2015
Subsequently, the number of drilling rigs in the United States is also reducing: a year before there were 1600 rigs with about 600 now.
Billionaire T. Boone Pickens is suing Canada through the North American Free Trade Agreement (NAFTA) for $700 million in future lost profit.