Russian official: Oil producers may agree on output freezing
MOSCOW, Apr 27 (PRIME) -- Oil producing countries may reach an agreement on freezing oil output, Vladimir Voronkov, Russia’s envoy for international organizations based in Vienna, told PRIME on Wednesday.
“The position of Saudi Arabia is changing, at first there were no restrictions planned, but the situation has changed. The country’s position is becoming closer to a consensus. I believe that it is possible. Moreover, this mechanism proved to be effective for these countries, oil prices rose and reached a high level,” he said.
Exporters failed to agree on freezing oil output at the level of January at the meeting in Doha on April 17. Oil producing countries may discuss this issue again at an OPEC meeting in June in Vienna. If an agreement is reached, non-OPEC countries may also join it.
End