Novak: Russia is ready to participate in the OPEC meeting in February

Novak: Russia is ready to participate in the OPEC meeting in February


OPEC will convene a meeting of oil-producing countries in February. This meeting will be a consultation on possible options for the coordination and evaluation of the market situation.

MOSCOW, 28 Jan. The organization of countries-exporters of oil (OPEC) in February, plans to hold a meeting with the participation of other oil-producing countries outside the cartel, Russia is ready to take part in the meeting, told reporters by energy Minister Alexander Novak.

“Now, OPEC countries are trying to convene such a meeting with representatives of OPEC countries and OPEC in February. This initiative came out of a separate country. Now there is discussion of the issue among the countries. We confirmed the possibility of our participation in such a meeting… We can meet up. Just now there is a study date with other countries,” said Novak, answering the question of when may meet.

“This consultation that may be carried out to assess the situation on the market, at low prices, as I said before, and it was possible the coordination of production. We had also held such consultations. Now the situation, as we have seen, has changed, the prices are lower, they all appreciate that the longer the period will be the recovery of these prices, so of course, we consider it appropriate to discuss the situation”, — said the head of the Ministry of energy of the Russian Federation.