Russian Energy Minister: Russia Is Ready To Make Up For Oil Deficit On World Market

Russian Ministry of Energy Igor Yusufov confirmed that Russia was ready to make up for the oil deficit in the world market in case it occurs. While responding Tuesday to journalists' questions, Minister of Energy said that his mission "as the head of the Russian delegation to the recent OPEC session in Vienna" had been "to establish more confident and efficient relations with this organization, promoting stabilization of world oil prices". However, Yusufov stressed, "it was evident in late September that both oil prices and the world supplies structure dramatically depend on the extent of the current retaliation actions and the military-political situation in the world." "During the Vienna meetings, Russia reaffirmed that it would further respect OPEC principles and approaches to formation of oil prices fair for producers and consumers." "At the same time, our country is ready to make up for oil supplies deficit if it appears," the minister said.