Russia: No Need for Oil Freeze Talks

Russia: No Need for Oil Freeze Talks

Russia sees no need for renewing discussions of an oil output freeze at current crude prices, while leaving open the possibility for the future, Energy Minister Alexander Novak told journalists in Moscow on Monday. “A basis for this has yet to develop, considering prices are still at more or less normal levels. If prices will fall, then that necessity will most likely arise," he was quoted as saying by Bloomberg. Russia, Saudi Arabia and other major oil exporters met in Doha, Qatar, in April in a bid to stabilize global markets by putting caps on output. The effort collapsed as Saudi Arabia demanded that rival Iran join the pact. At the time, Iran had ruled out any limits, as it ramped up production after the lifting of international sanctions. The Russian energy minister did not exclude the possibility that he could meet with his Saudi counterpart, Khalid Al-Falih, in Algiers next month.


Short URL : http://goo.gl/5Fj7DP
  1. http://goo.gl/yQbzN4
  • http://goo.gl/8WbK6b
  • http://goo.gl/eMl9PH
  • http://goo.gl/3QBfQA
  • http://goo.gl/NTsnso

You can also read ...

Oil Industry Bosses Will Discuss OPEC Policy
Key oil ministers and company executives will gather in Russia...
China, India Lead Solar Expansion
India and China are driving a rapid global expansion in large-...
Russia Eying Crimea Energy Resources
Russia should explore the Crimean continental shelf for...
Brent and WTI crudes stood at $79.39 and $72.47 per barrel on Tuesday.
Oil prices rose on Tuesday on concerns that Venezuela’s crude...
NISOC Efforts to Develop 4 Major Oilfields on Track
The National Iranian South Oil Company's efforts to boost...
Smart Electricity Meter Project Awaits Funds
The venture to complete the replacement of 450,000 old...
NIOPDC to Export  8,000 Tons of Diesel
Close to 10,000 tons of diesel were exported to Iraq and...