Saudi Arabia will not reduce oil production. This was stated by the oil Minister of the Kingdom Ali al-Nuaimi, reports Reuters.
“Forget about this topic,” said al-Nuaimi in response to the question about the possibility of reducing the production of hydrocarbons in the country. Against this background, message, oil prices fell to 43,77 USD per barrel or almost two percent.
Earlier, on 13 April, Russian energy Minister Alexander Novak and Ali al-Nuaimi has negotiated a freeze of production.
April 12, “Interfax” with reference to diplomatic sources in Qatar said that Russia and Saudi Arabia agreed on the issue of freezing the oil. “Today was contact the representatives of Saudi Arabia and Russia, during which the country reached consensus on the issue of freezing of oil production,” he said. According to the interlocutor of the Agency, with Saudi side had indicated that a final decision Riyadh will without reference to the position of Tehran.
This position is contrary to the previously mentioned Prince of Saudi Arabia Salman Ibn Muhammad. April 1, he said that the Kingdom is ready to freeze the oil only if similar measures will be Iran. This statement led to the collapse in oil prices.
The Prince also said that Riyadh is preparing for “the twilight of the oil age.” He said that the country plans to create a sovereign Fund with a volume of two trillion dollars. The money will be used to get rid of oil dependence.
April 17 in the Qatari capital of Doha to meet the largest oil producers. They will discuss the issue of freezing the production. Participation in the meeting confirmed 12 countries, among them Russia, Saudi Arabia, Qatar, Venezuela, Ecuador, Algeria, Nigeria, Oman, Kuwait, UAE.
