The MAYOR: to assess the impact of possible freezing of oil production on macroeconomic forecast of the Russian Federation prematurely

The MAYOR: to assess the impact of possible freezing of oil production on macroeconomic forecast of the Russian Federation prematurely


MOSCOW, February 16. To assess the impact of the agreements about the freezing of oil production on macroeconomic forecast of the Russian Federation prematurely. This was stated by the representative of the Ministry of economic development.

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“Talk about long-term prospects and the impact on prognosis is premature, too many factors affect a situation”, – said in the Ministry.

Russia, Saudi Arabia, Qatar and Venezuela are willing to freeze oil production at the January level, if other countries-oil producers will join this initiative, said Minister of energy Alexander Novak after the meeting in Qatar.

A number of participants of today’s meeting on Wednesday, February 17, intends to negotiate with Ministers of oil of Iran and Iraq in the Iranian capital, gave the channel “al Arabiya”.

The talk about reducing or freezing world oil production to normalize prices going for a long time. At the OPEC summit, which took place in December 2015, the cartel failed to agree on the size of the production quotas, and decided to raise it to the level of actual production. This has led to a sharp decline in prices for “black gold”. The oil Minister of Iraq stated that the decision was taken because of the reluctance of countries outside the cartel, including Russia, to reduce their prey.

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From high to collapse: the dynamics of oil prices since 2000