RUSSIA: MOSCOW AND OPEC AGREE TO MAINTAIN STABILITY ON OIL MARKET.

Record ID: 344998

  • Title: RUSSIA: MOSCOW AND OPEC AGREE TO MAINTAIN STABILITY ON OIL MARKET.
  • Date: 6th August 2002
  • Summary: (U7) MOSCOW, RUSSIA (AUGUST 5, 2002) (REUTERS - ACCESS ALL) 1. GV: OPEC SECRETARY GENERAL ALVARO SILVA WALKING TOWARDS AIRPORT EXIT 0.05 2. MCU: (SOUNDBITE) (Spanish) OPEC SECRETARY GENERAL ALAVARO SILVA SAYING: "Both OPEC and Russia agree that the most important thing is to maintain the stability of the market. Therefore if we co-ordinate our policies I don't see it to be any threat if we maintain control of our production." 0.33 3. MCU: JOURNALISTS 0.38 4. MCU: (SOUNDBITE) (Spanish) OPEC SECRETARY GENERAL ALAVARO SILVA SAYING: "The OPEC quotas are established by consensus from all the countries. And the quotas that we have now can only be changed if all country-memebrs agree to that." 1.00 5. GV/PAN/GV: ALVARO SILVA AND ENTOURAGE LEAVING AIRPORT, OUTSIDE AIRPORT (3 SHOTS) 1.27 Initials Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 21st August 2002 13:00
  • Keywords:
  • Location: MOSCOW, RUSSIA
  • Country: Russia
  • Reuters ID: LVA6T9GW6RHL6Y63T49GU0SCTFNH
  • Story Text: OPEC's Secretary General has said that both OPEC and
    Russia agree to maintain stability on the oil market. He
    added that Russia's oil exports were not a threat to oil
    market stability.



    Alvaro Silva arrived in Moscow on Monday (August 5)
    to discuss measures to ensure world oil oil market stability
    with Russian energy minister Igor Yusufov.

    "Both OPEC and Russia agree that the most important thing
    is to maintain the stability of the market. Therefore if we
    co-ordinate our policies I don't see it to be any threat if we
    maintain control of our production", Silva said upon arrival
    at Moscow's Sheremetievo airport.

    Russia, where oil output is booming for the fourth year,
    agreed to curb its exports by five percent or 150.000 barrels
    per day in January-June to help OPEC support international oil
    prices. However it loosened its limits as early as March and
    officially abandoned the deal from July.

    Russia is the world's second largest oil exporter.


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