15-09-04
The growth in oil output in Russia supports the stabilization of world oil prices. The PR Centre of the Industrial Production and Energy Ministry reported that Deputy Industrial Production and Energy Minister Andrey Reus had voiced this opinion at the OPEC conference.
According to the deputy minister, the interests of both oil producers and oil
consumers and the necessity of maintaining the present rate of growth in the
world economy should be taken into account during the discussion of the question
of changing the OPEC oil price range.
"It is in our common interests to keep the oil price within a range that would cover the production costs and country-related risks of the producers," the deputy minister declared.
Reus added that the price range should not have a negative effect on the
development of the world economy and should allow investments in the development
of the oil industry.
Source: Gateway to Russia