Russia Disappoints OPEC by Agreeing To Only Minor Cuts in Oil Production

Wall Street Journal ^ | 13 November 2001 | By JEANNE WHALEN and BHUSHAN BAHREE

[shrinkermd]

MOSCOW -- Russia, the world's third-largest oil producer, disappointed the Organization of the Petroleum Exporting Countries by agreeing to cut only 30,000 barrels a day from its oil production, a paltry amount that analysts say will do nothing to help bolster sagging oil prices.

[shrinkermd]

This is a quite a change from the published reports of last week for both Russia and Iran.

[Shermy]

Russia, Caucasus and Central Asia don't car a hoot for the arabs.

[my trusty sig]

Yep, but the Russians do care about cash money on the immediate barrelhead. So as with averaging up or down with stocks, if the price/bbl the Ruskies secure is a little less at times, it's not catastrophic, and the way they've been ramping up production, the black gold's gotta flow...