Author`s name Pravda.Ru

Russian MP Urges Moderate $20 Per Barrel - Comments

Alexander Shokhin, chief of the Duma committee on lending institutions and financial markets, said at a press-conference Friday that Russia should work to see world oil prices settled at the level of $20 per barrel. In his opinion, now that a forecast for world economic development is rather unfavourable, Russia should hardly side with the OPEC in upholding high oil prices leading to a protracted world recession. With its budget largely dependable on export items, Russia should act toward an early world economic growth, but see to it that oil prices will not drop below $15-16 per barrel, the critical figure for the oil industry and the budget.

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