Riyadh has offered to discuss the possibility of reducing oil production

Riyadh has offered to discuss the possibility of reducing oil production


Riyadh has offered to host a meeting of oil-producing States on the situation in the oil market and discuss the possibility of reducing its production, said the head of “Transneft” Nikolay Tokarev.

MOSCOW, 27 APR –. Saudi Arabia came out with an initiative to hold a meeting of oil-producing States on the situation in the oil market and discuss the possibility of reducing its production, the OPEC meeting could take place in February, told reporters the head of “Transneft” Nikolay Tokarev after the meeting in the Ministry of energy of the Russian Federation with representatives of Russian oil and gas companies.

“Saudi Arabia took the initiative, came out with a proposal to discuss the prospect of lower volumes (oil — ed.). Plus in February will be the OPEC meeting, in which we (the Ministry and the oil industry of the Russian Federation — ed.) will participate,” — said Tokarev.

He confirmed that one of the issues at the meeting will be linked to the possible reduction in oil production. “Yes, this is one of the levers or mechanisms that would balance somehow the price of oil (in the world – ed.)”, — said Tokarev.