The formation of a national system for assessing Russian oil and the creation of Russian benchmarks for oil are Russia's key tasks in the face of uncertainty in the global oil market and sanctions against Russia
UDC: 339.146
DOI: 10.33285/1999-6942-2022-8(212)-15-23
Authors:
KATYUKHA PAVEL B.
1
1 National University of Oil and Gas "Gubkin University", Moscow, Russia
Keywords: The national system for assessing Russian oil, Russian Price Agency, benchmarks, benchmark grade of oil, differential, Brent, WTI, Urals, ESPO, London Intercontinental Exchange, Urals futures contracts, ESPO
Annotation:
The urgency of the early formation of a national system for assessing Russian oil and the creation of benchmarks for Russian raw commodities is significantly increasing in the face of unprecedented sanctions imposed against Russia by the United States and EU countries. In this article, the author pays special attention to the need to avoid linking to quotes created by the world price agencies and to create a Russian price agency that should generate domestic benchmarks. The role and place of the St. Petersburg International Commodity Exchange, which play an important role in the development of the futures market and launches futures contracts for Russian commodities, thus contributing to the formation of Russian benchmarks, is shown.
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