Novak: the countries that had supported the freeze of oil, enough to agree


VLADIVOSTOK, February 20. Countries that have supported the freezing of oil production”, exports 75% of the total volume of this energy source, this is enough to reach an agreement, said energy Minister Alexander Novak.

“Actually, I want to say, those countries that already so publicly, shall we say, expressed support for this approach, the total volume of exports, which is supplied by around 75%. That is, in fact, well, in my opinion, to agree, that’s enough,” said he in an interview to “Vesti on Saturday”.

What is the price of oil will suit all

The price of oil at $50 per barrel would satisfy in the long run both consumers and exporters, said the head of the Ministry of energy.

“We talked with our colleagues that 50 dollars per barrel would satisfy in the long run both consumers and exporters,” he said.

Countries want to retain their market share

All of the countries-exporters of oil will maintain its market share when it comes to frozen production if the market supply increases, said Novak.

“Of course. Because if the market supply increases, the share of each of the exporting country will remain the same, which was” – he said, answering the question whether the share of Russian oil on the world market when deciding on the stabilization of production at the level of January 2016.

Iran has not expressed readiness to join

Novak said that Iran constructive attitude to the proposals to freeze the production, but the willingness to join them is not yet expressed.

“Yes, there was consultation. But I want to say that they are still ongoing. As I said, Iran is a pretty constructive attitude, in General, to the proposals, which now go from our foursome. However, let’s say, willingness to join them is not yet made”, he said.

Advice on the freezing of oil production will take place with Norway and Mexico, said Novak.

Consultations on stabilization of oil production should be completed by March 1, he said.