The World Petroleum Congress President, Dr. Eivald M.R. Roren, has hailed Russia's decision to cut its petroleum exports in the first quarter of 2002 by a daily 150,000 barrels. He called this decision of Russia "adequate", since it will balance the world's petroleum markets. Other independent petroleum producers - Norway, in part - have also decided on a 150,000-barrel cut in petroleum production and export, Dr. Roren recalled. The World Petroleum Congress president believes $20-25 per barrel to be a fair petroleum price.