VIENNA, July 2. /TASS/. Russia's Energy Ministry will consider OPEC's proposal on Tuesday to transfer the organization's goal for global reserves from 2013-2017 to 2010-2014 which should be reached as a result of cutting oil production, Energy Minister Alexander Novak said on Monday.
"We will discuss it tomorrow. One needs to understand how to calculate this. If we take earlier terms, we need to take into account several deflating coefficients which need to be in the formula. In 2010-2014, global oil output and consumtion was much less than today. That's why we need to reconsider everything, including the formula they offer," Novak said.
Russia has not yet seen the new version of the OPEC+ charter and plans to study the document on Tuesday, he added. Novak stressed that the previous version of the charter was coordinated with the Russian side.