Russian Prime Minister Mikhail Kasyanov gathered the heads of Russian oil majors on Monday, November 12 to discuss measures to stabilize world prices, the government press service announced.
The chairmen of Lukoil, Yukos, Surgutneftegaz, Sibneft and Rosneft, and the deputy chairman of TNK group took part in the meeting, also attended by Energy Minister Igor Yusufov, the press service said cited by Interfax.
Kasyanov on Friday said the half-dozen or so leading Russian oil producers were willing to make voluntary reductions in exports to help put a floor under a market weakened by the global economic downturn.
The announcement, which was not confirmed by the oil barons themselves, was welcomed by OPEC, which has been trying for several weeks to persuade major exporters outside the cartel -- such as Russia, Mexico and Norway -- to join in cutting supply.
Oil prices immediately climbed but some experts expressed skepticism at the Russian promise. Saudi Oil Minister Ali Al-Nuaimi, the most influential minister within OPEC, was in Moscow for talks Monday with top energy officials to discuss possible output cuts by Russia. His visit comes ahead of the Organization of Petroleum Exporting Countries (OPEC)'s meeting in Vienna Wednesday, where OPEC itself is expected to agree to slash its own output by as much as 1.5 million barrels from December. — (AFP, Moscow)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
