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Russian oil boom unlikely to curb prices

Jan 16, 2003
Marielle Eudes

MOSCOWRussian oil production has returned to levels not seen for a decade and crude exports last year beat all records, but Moscow's ability to contribute to a lowering of world prices remains limited, experts said ahead of a key OPEC meeting. Some OPEC (Organization of Petroleum Exporting Countries) members, including the world's biggest exporter Saudi Arabia, are willing to boost production in order to stabilize oil prices that have remained above the $28 per barrel level for several weeks as ...

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