Moderate oil prices preferable - World Bank chief

World Bank President James Wolfensohn said at the conference 'Corporate Governance and Economic Growth in Russia', which opened in Moscow on Thursday 3 June, that moderate oil prices are better for the world economy in general.

Wolfensohn said that prices in excess of $40 per barrel and even $30 per barrel significantly reduce production in the world, and as a result he thinks that more moderate oil prices are in everybody's interests.

He said that Russia is already one of the largest oil

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