Current oil prices optimal for consumers and producers, Russia not interested in them rising - Medvedev

Published time: January 23, 2013 11:54
Edited time: January 23, 2013 16:26
Russia's Prime Minister Dmitry Medvedev addresses the annual meeting of the World Economic Forum (WEF) in Davos January 23, 2013. (Reuters / Denis Balibouse)

Russia is not interested in high oil prices, nor is it in them going down, PM Medvedev said at the World Economic Forum in Davos. "The current level of oil prices is more or less perfect for both manufacturers and consumers," Medvedev said.

­The worsening outlook for the global commodity market is one of the key issues for Russia, as the country’s economy is still dependent on oil exports, Russian Prime Minister Dmitry Medvedev said at the 2013 World Economic Forum in Davos. The European crisis, the US debt and China’s structural risks are concerning issues for Russia, which will undoubtedly be discussed by the G20 throughout the year, he added.

But Russia will not collapse because of the ebbing flow of petro-dollars; and the dependence of the Russian economy on raw material exports is too exaggerated, Medvedev said.

Comments (5)

BOB (unregistered) 24.01.2013 16:34

Atta Saud (unregistered) wrote in #3
In the US, the roads are choaked with hispanics, asians, africans, assorted low life muslims and immigrants making their way to minimum wage jobs for corporate america. These jobs are subsidized by the US taxpayer, because the minimum wage workers are all receiving welfare of some form or another. With rising gas prices, the roads are freed up for real Americans, and the coporate lumpen-proletariat can take the bus or walk or bicycle to work. That makes real Americans' commute less stressful, because the vermin are concentrated in mass transportation. So, I hope for petrol prices at US $8 per gallon, and I hope OPEC and Russia will fix prices accordingly. ............ Atta Saud,  where are these real Americans you talk about. Are they the ones still in various reserves?

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duncan lucas-registered 23.01.2013 16:10

Mr.Medvedev is going for stability at what Russia thinks is a fair price.While the US wants it to be as cheap as possible to keep the American public happy as cars are clause 3 in the declaration of independence.You might take away my life and my freedom  but you wont take away my gun and car in that order.[apologies to Mel Gibson]

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Coocoorahcha (unregistered) 23.01.2013 15:24

I am a coocoorahcha, and me and my coosins we can afford US $8 per gallon. Gasoline would need to go to at least 12USD per gallon, because we coocoorahchas like to travel in cesspools, and like locusts, the only way to stop a swarm is by heavy duty price increases. We will just doubleup on the foodstamps and other welfare of course. I am already getting ready to pump my moochacha with swimming coocoorahchas to make more little anchor coocoorahchas to get more food stamps and welfare. Soon, the gringos will be the minority all over Estados Mexicanos, and then we will eat the gringos! Ole!

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