Report: Chevron CEO hopes for oil price stabilization after Doha talks

MOSCOW, Apr 12 (PRIME) -- The upcoming oil freeze meeting in Doha may stabilize the oil market, John Watson, CEO of U.S. energy corporation Chevron, said in an interview to CNBC TV channel on Tuesday.

Earlier on Tuesday, Vladimir Voronkov, Russia’s envoy for international organizations based in Vienna, said he hopes that exporters will reach an agreement at the oil meeting.

“I believe that the agreement may be reached, in spite of all controversy from Saudi Arabia and Iran. Our negotiations go on and the meeting is likely to take place as scheduled,” he said, adding that OPEC Secretary General Abdalla El-Badri will take part in it.

In February, Russia, Saudi Arabia, Qatar, and Venezuela tentatively agreed at a meeting in Doha to freeze 2016 oil output at the January level if other oil producers join the initiative. In March, Russian Energy Minister Alexander Novak said around 15 countries, including Iran, preliminary confirmed their participation in an oil freeze meeting on April 17.

Earlier in April, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman said the country will only freeze its oil output if Iran and other major producers do so. Novak said then Moscow is ready to hold negotiations with Riyadh before the oil meeting.

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