Russian oil producers to make money from China’s yuan-backed crude futures – analysts


Crude oil exports implemented via Eastern Siberia–Pacific Ocean (ESPO) oil pipeline may substantially benefit from yuan-denominated oil futures launched by China last month, according to industry experts.

If the new product manages to succeed, price pegging of the Russian ESPO export blend to the China contract will favorably influence the Russian oil blend price. The new futures contract may reportedly boost Russian producers’ annual revenues by extra $440 million.

source: https://www.rt.com/business/424192-russian-producers-benefit-china-futures/

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Author: Rayan M

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