MOSCOW, April 26 reported that the Russian energy minister Sergei Shmatko told the media here today told reporters that about 50 U.S. dollars per barrel of oil simply can not ensure that the oil and gas exploration and production, but the price of crude oil in the next 12 to 18 months will be rebound to 70-80 U.S. dollars a barrel level.
Shmatko said: "We are interested in a fair price."
In response to Shmatko Reuters reporters Ti Chude and Shi Jiedi 2 largest oil-producing countries need the oil to how to develop its crude oil reserves of the issue, said that the current oil prices can not ensure the continuity of oil production, mining or the implementation of the new technology sufficient funds required.
Source: www.in-en.com Apr. 27, 2009
