Russian Federation is for stabilization of world oil prices at $26-28 per barrel; up to 312 mln ton growth in Russia's oil production will not affect the price formation negatively - V.Kalyujnyi

/IRBIS, March 28, 00/ - PRIME-TASS informs, with the reference to the minister of fuel and energy of Russia Viktor Kalyujnyi, that Russia is for stabilization of world oil prices at $26-28 per barrel. He said oil production in Russia would increase up to 310-312 mln tons this year due to the number of measures aimed at improvement of Russian oil and gas complex. He added oil production growth in Russia would not affect negatively the conjuncture of the world oil market and formation of the average world price on oil. Russia is said to monitor rational proportion between domestic processing and exports, and it may reduce exports if it is coordinated with OPEC. He said they shared the concern of some international experts regarding the possibility of sharp oil price drops and destabilization of the world market if cartel decides to remove all oil production limitations from April 1. The minister added Russia respected collective decision of OPEC countries, though it believes current limitations be kept at least until acceptable average world prices, that provide economic growth and stabilization of the world market, are settled. The speech of Russian minister summarized the speeches of the minister of energy and industry of Qatar, and other representatives from Angola, Mexico and Oman.