Russian stocks rose 4 percent Monday, partly in response to news that an upcoming conference of OPEC countries will focus on ways to stabilize the price of oil at $70 per barrel. The Algerian Energy Minister says Russia and other non-OPEC countries should also cut output, or else "the OPEC decision is going to be harder and more painful (to make), demanding greater sacrifices on the part of OPEC members." Speaking of OPEC, its Secretary General, Abdullah al-Badri, will visit Moscow this week to discuss expanding ties with Russia. For its part, Gazprom finalized a deal with Equatorial Guinea, while continuing to pursue suitors Iran and Qatar.
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