UPDATE: Russian ministry: date, place of oil meeting not fixed yet

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MOSCOW, Mar 3 (PRIME) -- Russia is ready to take part in a meeting of oil producing countries to stabilize the market, but the date and the place of the negotiations have not been fixed yet, the Energy Ministry said in a statement on Thursday.

“Russia is ready to participate in negotiations with OPEC countries and other oil producing states. At present, a range of alternatives regarding the place and the date of the meeting on measures to stabilize oil market are being considered,” it said.

Earlier Bloomberg reported, citing the oil ministry of Nigeria, that OPEC and non-OPEC oil producers will meet on March 20 in Russia in order to discuss oil output freeze in order to support prices.

Venezuelan state oil company PDVSA said that Oil and Mining Minister of Venezuela Eulogio del Pino said that 15 oil producing countries will meet to discuss freezing of production soon.

A representative of the Iranian oil ministry told PRIME that the authority has no data on the meeting.

“At present, we have no data concerning a meeting of OPEC and non-OPEC exporting countries in Moscow on March 20,” the person said.

In February, Russia’s Energy Minister Alexander Novak agreed to freeze oil output with Saudi Arabia, Qatar and Venezuela. Some other countries joined the initiative, while the U.S. and Iran refused to participate.

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