Oil: Moscow, possible negotiations but less optimistic – The Republic

Moscow, April 18 – ‘We believe that the door is not yet closed’ for further negotiations on the cut of oil production, but ‘seen the heated debate (at the Doha summit, yesterday), and taking into account the del’Iran position’, ‘we are less optimistic ‘about the possibility’ to reach an agreement. This was stated by Russian Energy Minister Aleksandr Novak, quoted by Tass. According to him, the lack of agreement among the producing countries will not have ‘consequences for Russia. ‘I believe that for Russia there will be no consequences because our companies will continue to work with high competitiveness’ on the market. We believe that the market situation has to be balanced by supply and demand ‘, he said, saying he was certain that in the absence of an agreement the oil market I’ll find’ his balance for the ‘half of 2017. Novak has also denied that the main cause of failure of the summit in Qatar was the adversity ‘Iran to freeze production. ‘How can’ a country that did not attend the meeting to be the reason for the failure to reach an agreement? ‘, He asked

rhetorically. Minister of Moscow added that Russia now will observe ‘the position of the OPEC member countries must reach agreement on the freezing of production in them:’ We will see what decision will take, if they are able to reach an agreement among themselves on the fact which must all adhere to an agreement on oil production freeze ‘. Russia and ‘the most’ largest producer of crude with Saudi Arabia, but is not part of OPEC. .

( 18 April 2016 )

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