OPEC Secretary General to hold talks in Moscow

Secretary General of the Organisation of Petroleum Exporting Countries (OPEC) Alvaro Silva Calderon arrives in Moscow Monday on a one-day visit on the invitation of Russian Energy Minister Igor Yusufov. On Tuesday, August 6, the sides will hold talks on the issues of preventing a fall in the world oil prices.

The Russian Energy Ministry reported that there is a certain difference in the setting of a fair price of crude oil.

OPEC adheres to the stance that the price of Russian or OPEC oil should be equal to USD 22-28 per barrel or even USD 30. Russia, on her part, deems it optimal to set the price corridor at USD 22-25 per barrel.