Wednesday, April 13, 2016

Around 17 countries expected at oil output freeze talks in Doha — Russian energy minister

Russia’s Energy Ministry has received preliminary information on participation of 17 countries in the meeting in Doha scheduled for April 17, the Minister Alexander Novak said Wednesday, adding that more accurate information will be available by the end of this week.

"Only Qatar knowns the exact number as they ensure preparation procedures and provide information as organizers. We’ve received information from them that preliminarily around 17 countries have declared determination to come to Doha while more accurate information will be available by the end of the week," he said.

According to the minister, Russia expects to reach agreement on oil production freeze at the meeting.

"We’re optimistic and we’re going with the object of reaching an agreement," he said.

On April 17, representatives of global oil-producing countries will meet in Doha (Qatar) for discussion of oil output stabilization.

In mid-February, oil ministers of Saudi Arabia, Qatar, Venezuela, and Novak confirmed they were ready to maintain the average oil production level in 2016 at the level of January in case other oil producing countries join the initiative.

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