Dvorkovich: the oil price will stop falling in the case of freezing the production

Dvorkovich: the oil price will stop falling in the case of freezing the production


KRASNOYARSK, February 19. The oil price will stop falling in the case of freezing production, told reporters at the Krasnoyarsk economic forum, Russian Deputy Prime Minister Arkady Dvorkovich.

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“Such predictions are difficult to make – there are too many factors, but a strong fall in this case (the freezing of production – approx. ed.) should not be”, – he said.

As previously reported, on February 16 in the Qatari capital Doha, the Saudi Arabia, Qatar, Venezuela, included in OPEC and Russian energy Minister Alexander Novak expressed the readiness to save, on average, in 2016 oil production at the level of January of the current year, if other countries will join this initiative.

On 17 February in Tehran passed negotiations of Ministers of oil of Iran, Venezuela, Iraq and Qatar. They also discussed the possibility of freezing the level of oil production. Following the talks, the Iranian oil Minister said that the country would support any initiative to improve the situation with oil prices.

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Krasnoyarsk economic forum 2016. February 19. Text translation