Russian Ministry, firms to mull oil output if Doha deal fails

MOSCOW, Apr 8 (PRIME) -- The Energy Ministry will discuss oil production plans with Russian companies if oil exporters fail to reach an agreement in Doha on April 17, Minister Alexander Novak told reporters on Friday.

“We must meet with companies and discuss their plans on oil output,” he said.

In February, Russia, Saudi Arabia, Qatar, and Venezuela tentatively agreed to freeze 2016 oil output at the January level if other oil producers join the initiative. In March, 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.

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