MercoPress. South Atlantic News Agency

Russia will send high level delegation to OPEC meeting

Russia will send a high-level delegation to the OPEC meeting in Algeria on December Energy Minister Sergei Shatko said on Friday.

"We are planning again to take part in the meeting by sending a high-level delegation. The prospects of cooperation in a new format between OPEC and the Russian Federation are very interesting" Shmatko told reporters. Russia, a major oil producer but not an OPEC member, wants to hold a regular dialogue with the group of oil producing countries and has invited OPEC representatives to Moscow for a meeting in October. Russia is the world's major crude exporter outside OPEC as for some time has been present as an observer to the different oil cartel meetings. The big surprise was the last meeting this month when Russia sent a first line delegation headed by Deputy Prime Minister Igor Sechin. Analyst believe Russia will not join OPEC but is taking advantage of closer relations with exporting countries to irritate the West, with which is has been clashing since the Georgia conflict. However although Russia in the past has accepted OPEC guidelines regarding production cuts it also needs windfall earnings to compensate the lack of investment in the industry and growing budget demands.