Russia's Putin: BRICS should work together to reduce the energy market volatility

Russian President Validmir Puting has called for joint effort by the BRICS nations (Brazil, Russia, India, China and South Africa) to reduce the volatility in the energy markets. 

After all, oil prices have seen solid two-way business this year. For instance, Brent oil prices rose from lows near $52.50 to $75.58 in the first four months only to fall back to $62.00 earlier this month. As of writing, the black gold is trading at $66.40 per barrel.