The future supply of Russian oil is threatened by a likely decline in production levels, one of the country's top oil executives has warned.
Lukoil's Leonid Fedun said $1 trillion would have to be spent on developing new reserves if current output levels were to be maintained.
Recent figures show Russian output fell 1% in the first quarter of 2008.
The possibility of less oil from one of the world's key suppliers will add more pressure to prices now at record highs.
Russia needs new oil reseverves inorder to maintain there economic status. They can either make new ones or spend trillions trying to maintain the old ones. This article shows some of the future complications for Russia. It also deals with one of the major problems throughout the world today, oil.
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