Source Pravda.Ru

Russia's Vice-Premier Met With Saudi Arabia's Oil Minister In Moscow

Russia's vice-premier Victor Khristenko met with Saudi Arabia's minister of petroleum and mineral resources Ali Ibrahim al-Naimi. The Saudi guest told the Russian vice-premier that the Organisation of Petroleum Exporting Countries (OPEC) was planning to cut oil production in order to prevent a further fall in oil prices. Ali Ibrahim al-Naimi also handed Khristenko a message from Saudi Arabia's King to Russia's president Vladimir Putin. Victor Khristenko stressed that Russia was primarily interested in a stable and predictable situation on the world fuel market. He noted in particular that the Russian government deemed it expedient to reduce oil production in Russia in the fourth quarter of this year and at the start of next year by 30,000 barrels a day. Apart from this, it was pointed out that the seasonal growth in domestic oil and petroleum products consumption, and also a rise in their consumption level caused by the country's overall economic growth, will have their effect on the volumes of Russian oil exports.