The Iranian oil Minister, Bijan Zanganeh, oil Minister of Iraq Adel Abdul Mahdi, Minister of energy of Qatar Mohammed al-Garden and the Minister for petroleum and mining of Venezuela, Eulogio del Pino started the negotiations on the maintenance of oil prices and stabilize the world energy market. This was reported by Iranian news Agency Shana.
On the eve of the Russia, Saudi Arabia, Qatar and Venezuela expressed readiness to freeze oil production at the January level, subject to the addition of other exporters. Agreement with this idea, said sources in the industries concerned to Iraq and Kuwait.
The oil Minister of the UAE Suhail bin Mohammed al-Mazrouei said Tuesday that the oil policy of his country is open for cooperation with all exporters on market stability. But nothing more, he said.
The representative of Iran in OPEC Mehdi Asali, in turn, signaled Wednesday that he will take a hard line in the negotiations on the limitation of production, which he intends to increase, until it reaches dosection levels. “To ask Iran to freeze the level of oil production is illogical… when Iran was under sanctions, some countries have increased production and this has caused a drop in oil prices,” Reuters quoted an interview Asali the newspaper “Sharg”.
Earlier Wednesday, Reuters, citing two non-Iranian source close to the discussion in OPEC, said that Tehran can offer special conditions within the framework of the agreements about the freezing of oil production. They did not elaborate on what was going on.
According to Reuters, it may be consent to a limited increase in production by Iran or linking output growth with a future recovery in oil prices.