Novak: Russia is ready to host a meeting of the countries – manufacturers of oil

SIMFEROPOL, March 4. Russia is ready to host a meeting of countries-oil producers to discuss the stabilization of production, but a final decision on the venue and date of the talks yet. This was announced by energy Minister Alexander Novak on the TV channel “Russia 24”.

“Currently, publicly expressed in various countries support this agreement (stabilization of oil – approx. ed.). But regarding the date and venue of the consultations are still ongoing. For its part Russia is ready, if there be such a decision, and the country will agree to host the energy Ministers to have a final consultation and take a decision,” he said.

The Minister noted that the meeting of OPEC countries and other oil producers may take place from 20 March to 1 April.

Earlier Bloomberg, citing the Ministry of oil of Nigeria has informed that a meeting of OPEC members and other countries outside the cartel, will take place on 20 March in Russia.

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.