Putin Assures Bush on Oil Production
2 hours, 30 minutes ago
CRAWFORD, Texas - As oil prices rose, Russian President Vladimir Putin told President Bush on Monday that Russian oil companies are increasing oil production and exports and will continue to do so, the White House said.
"He said he recognizes that ... he doesn't need to be causing conditions such that it hurts consuming nations," Bush said here at his ranch after meeting with top defense advisers. "He's wise about that. But we've got a lot of countries beginning to use more energy and we haven't done a good job of increasing supply."
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"The best thing is to come up with a comprehensive energy strategy that encourages conservation, encourages environmentally
sensitive exploration for natural resources in our own hemisphere," Bush said.
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"President Putin also noted that Russian oil companies are increasing production and exports and will continue to do so," said McClellan. Putin's comments on increasing Russian production came as world oil prices approach $50 a barrel.
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http://news.yahoo.com/news?tmpl=story&u=/ap/20040823/ap_on_bi_ge/bush_putin_3---------
Yukos Cuts Output Forecast, Shares Fall
Mon Aug 23, 2:22 PM ET
By ALEX NICHOLSON, Associated Press Writer
MOSCOW - Beleaguered Russian oil company Yukos announced Monday that it had reduced its crude output forecast for the year as bailiffs continued to collect cash against the company's crushing back taxes bill from its frozen bank accounts.
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http://story.news.yahoo.com/news?tmpl=story&cid=530&e=8&u=/ap/20040823/ap_on_bi_ge/russia_oil_fight