Russia will not co-ordinate sizes of export of oil with the OPEC.

07.09.2009

Russia will not co-ordinate sizes of export of oil with the OPEC, Minister of Energy Sergey Shmatko has declared. The day before the secretary general of the OPEC has complained about unwillingness of Russia to support cartel in struggle against the redundant sentence of oil and to limit its export.
Russia can start to regulate level of an oil recovery in case of sharp reduction of prices, Shmatko has told. He considers the present prices normal for extraction growth. Under Ministry for the Power Generating Industry forecasts, it will increase in 2009 by 0,4 % to 490 million permanently delete.
The OPEC it became insulting: while the cartel constrains extraction, Russia became the largest exporter. According to the International power agency, in II quarter Russia has overtaken on size of export of oil of the largest member of the OPEC — Saudi Arabia: 7,4 million barr./days against 7 million In comparison with I quarter export has grown from Russia on 0,15 million barr./days, and sales of Saudi Arabia were reduced to 0,39 million
Russia deals doubly: declares OPEC support at cheap oil and refuses cooperation as soon as the prices become comfortable.
OPEC solutions on extraction lowering are usually routed on adjustment of the prices in short-term perspective, in Russia in one stage to lower extraction, and then it is impossible to restore it because of features of development of deposits.
However, Shmatko has promised to listen to criticism of oil cartel at discussion of a nominee of the president of "the gas OPEC». Russia tries to increase the weight in the power market, using the OPEC. Moscow always concerned cartel as to the tool of pressure upon the West and the raw markets, but was not ready to endow a part of export incomes and to incur costs for extraction limitation.
Инф. delo.ua

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