Russia Will Not Take Part In 118th Extraordinary OPEC Conference In Vienna

Russia will not take part in the 118th extraordinary conference of ministers of energy and oil of the Organisation of Petroleum Exporting Countries (OPEC) member- countries to be held in Vienna, the headquarters of the world oil cartel in Vienna reported. Since the meeting of ministers of OPEC states scheduled for November 14 is extraordinary, the cartel leaders decided "not to alter traditions" and not to invite to the Vienna conference representatives of observer-countries, including Russia, Mexico, Kazakhstan and Oman, a source at OPEC general secretariat reported. According to the general secretariat spokesman, practically all issues conducive to stabilisation of world commodity markets and setting adequate and fair prices of crude oil have already been agreed with Russia. If meetings between ministers of energy and oil of OPEC major members - Saudi Arabia, Iran and Venezuela - and Russian energy leaders are held in Moscow Monday, the 118th Vienna conference will at any rate take Russia's opinion of actions required to achieve key goals of the states-major oil producers into account.