11 June 2004 08:50
INT`L ENERGY FORUM SEEKS TO STABILIZE OIL PRICES - RUSSIAN AMBASSADOR
MOSCOW. June 11 (Interfax) - Ways to stabilize world oil prices will be in the focus of a meeting of the executive
committee of the Standing Secretariat of the International Energy Forum, scheduled for June 30 in Riyadh, Russian
Ambassador to Saudi Arabia Andrei Baklanov told Interfax on Thursday.
"We believe the session of the Standing Secretariat of the International Energy Forum slated for late June, the
first one after the price hike, will be an important stage in the development of a new stabilizing mechanism of
cooperation between the oil producing and consuming countries," Baklanov said.
The secretariat will not make binding decisions, but it will play
the role of an informational and analytical center that issues
Therefore, Riyadh could in the near future become "the place where
concerted efforts will be made to work out both an international
The ambassador noted that the Standing Secretariat was established at an International Energy Forum's decision
in late 2003 to arrange a dialogue between the oil producing and consuming countries to stabilize the energy market. The
Secretariat includes three groups of countries: the leading producers of oil, including OPEC members and independent
producers such as Russia; the largest oil consumers; and other important players on the world market.
recommendations to make the energy market more stable and predictable.
strategy for reaching a harmonized level of oil prices, acceptable to the majority of countries, and urgent measures
to influence current energy prices," Baklanov said.
[Interfax] |
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