Min: Russia to try to agree on oil freeze anew, but optimism fades

DOHA, Apr 18 (PRIME) -- Russia will consider continuing negotiations on the oil output freeze but its optimism has faded because of the futility of the last round of negotiations in Doha, Energy Minister Alexander Novak told reporters on April 17, after the meeting.

“There are possibilities (to reach an agreement). Concerning the agreement, of course, taking into account today's fervent discussions and quite different points of view on this issue; taking into account the position of Iran – the country that has been absent from today’s meeting, I think, of course, we are already not so optimistic as regards such agreements,” Novak said.

Oil producing countries have failed to arrange oil output retention at the level of January at the meeting. Saudi Arabia insisted that all OPEC members participate in the pact, an impossible term in the absence of Iran. Tehran will stick to its policy of regaining the market share lost during the years of sanctions, officials said earlier.

OPEC states have scheduled the next negotiations on the issue for June in Vienna, while non-OPEC countries will be able to join them if the talks are successful.

On Monday, Brent fell 4.27% to U.S. $41.26 at 8:21 a.m., Moscow time. Asian markets opened in the red zone.

End