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.

Copyright © 2004 - Platts

Please visit:  www.platts.com

Their coverage of energy matters is extensive!!.