Source Pravda.Ru

OPEC Wants Promises Russia Won't Make

When meeting yesterday in Moscow with top OPEC officials, Prime Minister Mikhail Kasyanov said where oil markets were concerned Russia's primary objective was assuring prices fair to both producers and consumers. As a Rosbalt's reporter was informed by the PR Department of Russia's government, Mr. Kasyanov also said any decisions in this connection would be made with the present condition and prospects of development of world and Russia's economy and the reserves on hand and the level of consumption of oil in mind. The meeting parties exchanged their opinions of the current condition of oil markets. Noted was Russia's close adherence to her obligations as to the reduction by 150,000 barrels daily of oil exports in the first quarter of this year. The OPEC officials would like to see the continued reduction of Russian exports in the second quarter of 2002. Yet Russia's government did not come up with the promise. The parties agreed the continued exchange of opinions and coordination of actions would be advisable and mutually beneficial.