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Frost oil production: the effect to be discussed in Russia in October

Заморозка добычи нефти: эффект обсудят в России в октябре

The draft agreement meetings of the countries-oil exporters in Doha provides for the freezing of oil production at the January level to 1 October 2016. In October it is planned to discuss the progress achieved at the meeting, which will be held in Russia.

As stated by TASS, the Minister of energy of Azerbaijan Natig Aliyev, “the draft agreement”, and the agreement in Doha would have a “gentleman’s character”, because in its draft form does not provide mechanisms of control.

Thus in the Russian energy Ministry said that while no arrangements about meeting there. “Waiting for the outcome of the meeting”, — said the representative of the Ministry.

The outcome of the Doha meeting, which will begin on Sunday, April 17, will largely depend on developments in the oil market in the coming months. In addition to the majority of the members of OPEC, the discussion will involve other leading players of the fuel market, including Russia. Our country is Minister of energy Alexander Novak. He has already held preliminary talks with his Saudi counterpart.

According to experts, the results of the negotiations particularly strongly depend on the positions of Moscow and Riyadh. But the incoming OPEC delegation in Iran to Doha has not arrived: the lifting of sanctions after Tehran intends to increase oil exports. In turn, Minister of energy of Azerbaijan, has stated that OPEC can offset the increase in production in Iran due to the revision of the overall quota.

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