Source Pravda.Ru

Government Commission To Discuss Oil Export Cuts To Start January 1, 2002

On Monday the government commission on access to long distance oil pipelines and oil product pipelines will discuss technical measures related to the coming reduction of Russian oil exports, the secretariat of Russian Vice-Premier Viktor Khristenko told RIA Novosti. The decision to cut oil exports to 150,000 barrels per day as of January 1, 2002 was made at a session of Russian Premier Mikhail Kasyanov with the heads of Russia's major oil companies. Kasyanov explained that Russia intended to make this step to contribute to the stabilisation of prices on the world market. Russian government officials have repeatedly declared that $20-25 per barrel will be a fair price corridor.