Russia, OPEC blame geopolitical concerns for unstable oil prices
Moscow (Platts)--1Nov2004
Russia and OPEC agree that geopolitical concerns have played a major role in creating instability on world energy markets, the Russian industry and energy ministry said late Friday after its leader Viktor Khristenko met with Indonesia's representative at OPEC Maizar Rahman in Moscow. Khristenko and Rahman share "the opinion that instability on the world oil market, leading to sharp price swings, is closely connected with geopolitical factors," the ministry said, adding that "all energy producers and consumers should cooperate more closely." Khristenko and Rahman discussed during the meeting possible cooperation between Russia and OPEC on world crude and natural gas markets. Russia is not a member of OPEC, but attends meetings of the organization as an observer. Rahman was in Moscow last week to attend Russian Oil and Gas Week.
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