News

29.05.2017

A REPRESENTATIVE OF FUND ENERGY ON THE AIR OF RADIO FRANCE INTERNATIONALE: OPEC HAS MADE AN IMPORTANT STEP FOR THE STABILIZATION OF GLOBAL ENERGY MARKET

Both an extension of the production cuts agreement made by OPEC countries and a decision to begin consultations with non OPEC producers open the perspective for oil price stabilization corresponding just prices in global energy markets. It was announced by a representative of Fund Energy on the morning air of Radio France Internationale  (http://www.rfi.fr/ ).

Fund Energy regarded this decision as a logical continuation of so called OPEC+ agreement reached by OPEC and non OPEC countries in late November 2016,  and in historical discourse it is considered as an expression of economic solidarity practices to balance oil output cuts, which were started during productive negotiations between Russian Energy Minister Igor Yusufov and key Ministers of OPEC countries on the eve of the 117-th OPEC meeting in 2001, stressed Advisor to the founder of the Fund Alexei Turbin.

In the negotiations Russia’s position based on the ideology expressed by I. Yusufov has not lost its relevance in our days. Its deeper meaning according to the interlocutor of Radio France Internationale is to achieve and maintain fair oil prices – those ones which in equal measure would satisfy both suppliers and consumers.

 "The United States readiness to participate in negotiations on the oil markets, which future remains still uncertain in the light of increased U.S. shale oil exports in the traditional markets may become comparable good news now," said A. Turbin, being Advisor to the Russian Energy Minister in 2001, and taking part in the 117th OPEC meeting.