The President of OPEC, Minister of energy of Qatar Mohammed bin Saleh al-Sada has not excluded that negotiations on the reduction of oil production can be resumed, announced on Tuesday, may 24, Associated Press. According to him, now it is necessary price of at least $ 65 per barrel, which is the head of the cartel considers fair.
The head of OPEC said that the decline in prices of raw materials led to a drop in investment and this has jeopardized the stability of future supplies.
At the same time, he noted that prices in the commodities market is gradually growing. “The oil market is recovering slowly, but steadily. Fortunately, statistical indicators point to it moving in the right direction”, — said the head of the organization.
The coming negotiations between the representatives of OPEC countries and of States not members of the organization, can be held on 2 June. At the previous meeting, held in Doha on 17 April, the parties have not reached agreement on the freezing of oil production. The meeting decided not to send representatives of Iran. According to the Minister of petroleum of the Islamic Republic of Bizhan Namdar Zanganeh, the country does not intend to sign the plan to freeze the prey so her “participation in this meeting is not mandatory”.
As at 24 may 17:30 GMT, the price of a barrel of Brent on London exchange ICE was 48.9 dollars, which is above the level of the previous trading day up 1.1 percent. The price of a barrel of American WTI crude oil rose by 1.5 percent and reached 48.79 USD.
