OPEC, Russia to Meet Annually, Improve Oil Market Transparency

The Organization of Petroleum Exporting Countries and Russia agreed today to hold annual ministerial meetings starting 2006 in an effort to improve oil market transparency and infrastructure.

OPEC President Sheikh Ahmad Fahd al-Sabah and Russian Energy Minister Viktor Khristenko met in Moscow today to discuss how Russia can best represent the interests of oil producers when it takes over G-8 leadership next year, ministry spokesman Vasily Osmakov said in a telephone interview.

Bloomberg