TOKYO, Dec 1: Russian Deputy Prime Minister Viktor Khristenko reiterated on Saturday that the world’s second largest crude oil exporter would make a decision on next year’s first quarter output around mid-December.

“A decision on Russia’s first quarter (crude supply) will be made around mid-December,” Khristenko, speaking through an interpreter, told reporters.

“Russia has a strong interest in maintaining the stability of the (crude) market,” he said.

Khristenko said he believed an appropriate price for oil was at $20-$25 per barrel for benchmark Brent mix.

Khristenko, who arrived in Tokyo on Friday for bilateral economic talks, said Russia was keeping in touch with members both of Opec and non-Opec on the issue.

Russia is under pressure from Opec to make a more substantial cut than the token 50,000 barrels per day it has so far offered for the fourth quarter of this year.

Opec has said it will cut crude output by 1.5 million bpd from January 1, but only on condition that Russia and other major non-Opec producers curb production by a combined 500,000 bpd.

Itar-TASS news agency quoted Khristenko as saying on Friday that Russia might decide on deeper cuts in output and exports from January.

Asked on Friday whether the decision in December could include deeper reductions in production and exports beyond the current 50,000 bpd cut, Khristenko said: “It also means this”.

Khristenko said in a statement on November 27 that Russia would next month consider a bigger oil export cut from January than those already announced.

The Russian government appeared to be at odds on oil policy on Friday with Prime Minister Mikhail Kasyanov saying the country wanted to keep its distance from Opec.

“We are holding consultations (with Opec) but we are independent producers and we determine our output and export and oil product policy independently taking into account different factors,” Kasyanov told the State Duma lower house of parliament.—Reuters