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Latin America is preparing to discuss the freezing of oil production

Латинская Америка готовится обсудить заморозку нефтедобычи

Meeting of oil-producing countries of Latin America on the freezing of the level of oil production planned for Friday in the capital of Ecuador, Quito. This was announced by President Rafael Correa.

According to him, it must participate Ecuador, Colombia and Venezuela. Initially it was assumed and part of Mexico, but still it is not confirmed. Correa noted that Mexico has been hardest to negotiate.

Experts believe that whatever the outcome of these negotiations, he will not have a significant impact on the positions and policies of other oil producers.

“I do not think that the agreement of these (Latin American — ed.) countries, which, obviously, will make recommendations to limit production, will have a decisive power to determine policy in terms of production, Russia, Saudi Arabia or Iran, which are countries that determine the situation on the oil market,” said RIA Novosti oil analyst and Director of the energy Agency PetroleumWorld Elio environmental impact assessment ahead of the meeting.

Earlier the oil Minister of Ecuador, Carlos Pareja noted that Latin American countries need to develop joint decision to the meeting in Qatar on April 17, freezing of the production level will be discussing the world’s leading oil producers.

Russia, Saudi Arabia, Qatar and Venezuela at a meeting in Doha on February 16 to support the world prices for oil have agreed to the extraction is, on average, in 2016 at the level of January, but only if other manufacturers will join the initiative. Among the countries that had expressed such a readiness, Ecuador, Algeria, Nigeria, Oman, Kuwait, UAE.

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