Russia is ready to cut oil production

The government is considering likely support options prices for oil. To achieve the desired result, the Department of state expects to reduce production of black gold.

The head of the Ministry of energy Alexander Novak said that Russia is developing possible options for stabilizing oil prices. For example, he suggests that the fall in domestic production of black gold will help to stop the reduction in global tariffs. With all this Novak stressed that it is 1 of the species out of the situation, but the final decision yet.

"This issue requires laborious study. At the moment this solution there. We very much depends on the budget revenues from the oil industry. We do not have such technology, as in Saudi Arabia, to dramatically reduce production or increase, but in General this question is discussed, we are working within the government in the opinion of the appropriateness of such methods", quoted the head of the Ministry RIA Novosti.

Remember that the world price for oil has declined in recent years, reaching a long-term lows. In this regard, on 27 November in Vienna scheduled Ministerial meeting of OPEC member States, where they will decide whether to go on the reduction of oil production in the deterioration of monitoring the use of oil in the world, an important increase production in the United States, as well as a significant reduction in the cost of oil. Besides Russia, with 1998 being the observer in OPEC and participating in the sessions of the conference, and meetings of experts and other events OPEC meeting in Vienna will not go.

The price of the oil basket OPEC once again falls. On 20 November, the price of the black gold decreased by $ 0.02 of, or 0.03%, to 74,03 dollars per barrel. Days.Ru wrote that the Department for energy information (EIA) of the U.S. Department of energy believes that the price of oil could fall to the minimum level. According to the monitoring professionals, the black gold is still cheaper, probably up to $ 50 per barrel.

sections: Economics