MOSCOW, Sept. 15 (UPI) -- Russia oil production for 2010 will rise to more than 500 million tons, though OPEC officials said the country may have to slow its production.
Russian Energy Minister Sergei Shmatko said Russian oil production rose some 6 million tons compared with the previous year.
"We will produce over 500 million tons in 2010," he was quoted by the state-run news agency RIA Novosti as saying.
On the 50th anniversary of the Organization of Petroleum Exporting Countries, crude oil prices are where OPEC said was a reasonable price for now -- between $70 and $80 per barrel.
Ahead of planned celebrations, OPEC President Abdullah el-Badri said Monday the 12-member, oil-producing cartel was seeking stability in pricing.
Badri said the Russian oil production wasn't having an impact on OPEC operations, though the cartel was keeping an eye on supplies.
"(I)f this level of production is going to continue, Russia may have to slow down a bit," he was quoted as saying.
OPEC countries are responsible for 40 percent of the world's oil production. Russia isn't a member.
