Media: the meeting of the countries-oil producers in Russia will take place on 20 March


MOSCOW, March 3. The meeting of OPEC member countries and other countries outside the cartel, will take place on 20 March in Russia, reports Bloomberg citing oil Ministry of Nigeria.

“And Saudi Arabia, and Russia – all back to the negotiating table”, – commented on the Ministry of oil of the country.

However, in Nigeria, expect a sharp change in the price of oil after the upcoming meeting and hope that she will recover to $50 per barrel.

Earlier, Minister of energy Alexander Novak said to journalists that the decision to stabilize the oil production was publicly supported by 15 countries, producing 73% of oil in the world. He also noted that the price of oil above $50-60 per barrel will again lead to an oversupply of oil on the market.

16 February in the Qatari capital Doha, Ministers of oil of Saudi Arabia, Qatar, Venezuela, included in OPEC and Russian energy Minister Alexander Novak held talks on improving the price situation on the oil market. The parties expressed their willingness to save, on average, in 2016 oil production at the level of January of the current year, if other countries-oil producers will join this initiative.

As said Novak, a final decision on stabilization of oil production will be made in March.

“In what format it will be done, yet to be discussed with colleagues. The format is not specified. The most important issue is monitoring the implementation of those agreements that can be achieved,” added Novak.