Report: Oil output freeze talks with Mexico, Norway planned

MOSCOW, Feb 20 (PRIME) -- Consultations on oil output freeze will be held with Mexico and Norway, Russian Energy Minister Alexander Novak told channel Russia One in an interview broadcast Saturday.

“Consultations will be held with them (Mexico and Norway) as well for sure. By the way, when we met in Vienna for the first time in 2014, soon after the prices started to fall, Mexico participated in these negotiations. This is why I think that they will be constructive as well in terms of discussing the approaches which we discussed,” Novak said.

On Tuesday, Russia, Saudi Arabia, Qatar and Venezuela agreed to keep oil output at January levels on average in 2016, if other producers join the initiative.

Novak also said that negotiations with Iran continue. “Iran had a quite constructive approach in general to the proposals which we four made. Nevertheless, it has expressed no readiness to join us so far.”

All consultations must be finished by March 1, Novak said.

According to Novak, Russia will retain its market share if it abides by the oil output limits pact. A U.S. $50 oil price will suit both the producers and consumers, he said.

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