Russia Will Cut Oil Production And Exports By 50,000 Barrels Per Day

In the fourth quarter of this year, Russia will cut production and export of its oil by 50,000 barrels per day. Such is the decision taken on Friday at Prime Minister Mikhail Kasyanov's conference with the heads of oil companies. After the conference, Deputy Prime Minister Viktor Khristenko said that the figures of the daily production and exports of oil for the first quarter of the next year will be specified at another meeting between Mikhail Kasyanov and the heads of oil companies in December. The Deputy Prime Minister pointed out that additional measures which are necessary for stabilising oil prices at the world markets will be taken on the basis of the common positions of the oil companies and the government.