Duma Official Says OPEC Will Not Hurry To Invest In Russia

OPEC members will make investments in Russia only in the event of their economic expediency, Anatoly Aksakov, deputy head to the State Duma's committee on economic policy and entrepreneurship, said while commenting on the Russian Energy Minister's appeal to OPEC to invest in Russia in order to increase the oil demand on the country's domestic market. Aksakov maintains that the minister's argument was not persuasive for OPEC. Additionally, in his opinion, the situation of the oil market was "quite controllable." According to his forecast, the oil price will fluctuate between $24 and $25 per barrel in the nearest future.