December 07, 2006	Thursday	Ziqa'ad 15, 1427

MOSCOW, Dec 6: Russia could start cutting its annual oil exports by 1.0 per cent from 2025, Economic Development Minister German Gref said on Wednesday. “Until 2025 we will increase the supply of oil to the market, and then we will reduce them perhaps by 1.0 per cent a year,” he was quoted by Interfax news agency as saying at a meeting here with ambassadors from Latin American nations.

“If we do not discover new fields, that is the scenario we envisage,” he said.Russia is currently the second biggest exporter of oil in the world.—AFP