$20-25 per barrel remains most acceptable oil price for Russia

$20-25 per barrel remains the most acceptable oil price for Russia, Russian Deputy Energy Minister Alexander Voronin has announced.

"Russia's stand on the issue agrees with that of the OPEC," he said, when speaking at the extraordinary 125th OPEC conference on Wednesday.

"The specified price corridor allows us not only to mensure the necessary level of oil production, but also to invest in development of Russia's oil industry," Voronin pointed out. "We support the OPEC's efforts aimed at preventing sharp fluctuations in world oil prices and ensuring reliable deliveries of oil raw materials to consumers. We believe this to be a pledge of stability in the world economy," he emphasised.