The decision of Russian oil companies against building up oil-extraction volumes in 2002 by 15 million tonnes will allow to reduce oil-extraction and export volumes by 300,000 barrels a day, Leonid Fedun, vice-president of the LUKoil company, told journalists Friday. According to him, the reduction in 2002 will constitute 350,000 barrels a day with due regard of the decision already taken by the Russian government to cut oil-extraction and export volumes by 50,000 barrels a day in the fourth quarter of this year. LUKoil deems it expedient to reduce oil-extraction and export volumes proportionally by 100-150 barrels a day, Leonid Fedun noted. He believes this will allow to stabilise the situation in world oil markets.
To understand how China will act, one must understand the logic of China's development. This logic has always been almost the same, be it the Middle Ages, or modern times