At the meeting of OPEC to discuss reduction of oil production level up to 5%

At the meeting of OPEC to discuss reduction of oil production level up to 5%

OPEC and other oil producing States at the upcoming meeting in February will discuss the question of reduction of oil production of each producing countries, said Minister of energy Alexander Novak.

St. PETERSBURG, 28 Jan. The subject of planning in February OPEC meeting with representatives of other oil-producing States may become a question of reducing the oil production of each producing countries at the level of 5%, but you need a General agreement, said the head of Ministry Alexander Novak.

“Actually, when we were still at the previous meetings, the consultation was discussed, it was generally not about Russia, but in General about the countries that extract and export oil. It is about such settings and sound is on the reduction of production in each country up to 5%”, — told reporters Novak, answering the question about whether or not Saudi Arabia has offered Russia to cut production by 5%.

“Actually, it really is considered to be not so straightforward, a lot of questions on the reduction control, from which base to consider, and so on. Therefore, in order to at least begin these questions to work, you need General agreement from the beginning. So too early to tell,” said the head of Ministry.

Answering a question of journalists, whether in force at present these settings, Novak said, “It’s just the subject of meetings and discussions”. He once again stressed that early to speak objectively about this issue.

Answering the journalists ‘ question about how technically, Russia can reduce the production, Minister of energy stressed that it is necessary to discuss the question, in principle, given the fact, will be willing countries within and outside OPEC, to take this step.