The media learned of the conditions of Russia’s participation in the negotiations on the freezing of oil production


As Bloomberg reported, citing three sources familiar with the situation, Russia next week to attend the International energy forum in Algeria, however, the Russian delegation can leave the forum prior to the OPEC members informal negotiations on the freezing level of oil production.

The Russian side, the sources noted Bloomberg, will wait for the invitation to negotiations on the freezing of oil production after the OPEC countries will come to agreement among themselves. During the forum, delegates from Russia intend to hold a series of bilateral negotiations with the countries-neftepererab. The energy Ministry this information has not commented.

International energy forum kicks off in Algeria on September 26, talks of OPEC members scheduled for the last day of the forum, September 28.

In early September, the head of the energy Ministry of Russia Alexander Novak, who will attend the forum in Algiers, said that Russia will take part in an informal meeting of OPEC, if it takes place.

Talks about the freezing of the level of oil production in Algeria will be another this year an attempt of the exporting countries to reach a compromise. Previous such attempt was undertaken in April in the Qatari capital Doha and ended with the failure of Saudi Arabia and Iran were unable to reach agreement.

Now, as reported by Bloomberg, citing informed sources, Riyadh invites Iran to freeze oil production at 3.6 million barrels. a day. For its part, Saudi Arabia is ready to reduce its own production, which now stands at a record for the country of 10.7 million barrels. a day.

Opinions on whether succeed or not to reach agreement on the Algerian negotiations diverge. Of the 23 analysts surveyed by Bloomberg, only two believe in the success of the negotiations. At the same time, the former OPEC Secretary General Habib Khelil said he was confident that the oil-producing countries agree. If negotiations again fail, there is a glut in the oil market may continue to grow in 2017.

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