11:19 GMT +325 June 2018
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    ALGIERS, February 10 (RIA Novosti correspondent Borislav Pechnikov) - Russia has agreed to OPEC's proposed oil price corridor, said Purnomo Yusgiantoro, the president of OPEC, acting secretary general of the cartel and the Minister of Energy and Mineral Resources of Indonesia.

    He pointed out that the development of relations between the oil cartel and Russia "is progressing and aimed, first of all, at stabilizing world raw materials markets and achieving a balance between supply and demand." "The OPEC management and petroleum and energy ministers of the OPEC member countries maintain constant contact with the Russian Energy Ministry and coordinate many steps with Moscow aimed at achieving the goals set," pointed out Mr. Yusgiantoro.

    The 129th extraordinary session of the world petroleum cartel opens on Tuesday in Algiers.

    The OPEC president refuted the reports in the Western press about the elevated conflicts between Russia and OPEC, resulting in the Russian delegation, though it had been invited, not arriving in Algiers to attend the 129th conference as an observer.

    "Earlier, observers attended only OPEC regular Vienna higher forums. The 129th conference in Algiers is extraordinary," explained the Indonesian minister.

    He also noted that in 2003 the Russian delegation took part in the OPEC 126th and 127th conferences in Doha and Vienna.

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