24 Feb 2011 19:16

Shmatko: oil prices will come down soon

BRUSSELS. Feb 24 (Interfax) - Russian Energy Minister Sergei Shmatko believes the current spike in oil prices will be short-lived. "We believe that oil prices will come down as the situation in North Africa stabilizes," he said.

Russia is interested in seeing that happen, just as it is interested in seeing a fair price for oil. "We were happy with the price situation of recent times [the latest six months]," he said.

"A fair price is a price that meets the needs of consumers and suppliers. In the most recent six months there were no serious arguments over price," he said. That is because "the price was fair."