Russia to be a major oil exporter?

Russia has the capacity to bridge any gap in the supply of crude on a worldwide level, according to Energy Minister, Igor Iussufov.

Making declarations after his presence at the conference of OPEC (Organization of Petroleum Exporting Countries) in Vienna, where the Russian federation was present as an observer, Igor Iussofov said, “Our country is ready to make up the deficits in the supply of crude, should this happen”.

Igor Iussufov made it clear that such a scenario would only appear in the context of an eventual shortfall and that OPEC policy would be respected. “We will continue to respect the principles and approximation to OPEC in favour of fair oil prices for the producers and consumers”.

The Russian federation would in this way become a major player in assuring stability in the world at a time of insecurity due to the events in Afghanistan in the aftermath of the September 11th attacks.

This crucial intervention would guarantee parameters for prices and provisioning of crude, the motor of the world’s economy.


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