Novak: Consultation on the feasibility of freezing oil will finish by March – Sight

Advice oil-producing countries on the feasibility of freezing oil production in 2016 to support global prices for raw materials to be completed by March 1, said Russian Energy Minister Alexander Novak.

«We agreed that all consultations should be completed by March 1, “- said Novak in an interview with the program” Vesti on Saturday “, RIA” Novosti “.

The Minister also said that the cautious stance informed about Iran’s offer to freeze their prey. “Yes, there (in Tehran), consultations were held. But I want to say that they are still ongoing. And the Minister (the Venezuelan oil) just informed me of the progress of these negotiations. … Iran has reacted quite constructively, in general, to those proposals, which now go by our Quartet. However, let’s say, ready to join them is not expressed, “- said Novak.

However, according to him, does not matter if Iran did not join the agreement, the Russian minister said. “In fact, I want to say, of those countries that have already publicly expressed their support for such an approach, of total exports, which produce exporters is about 75%. That is, in fact, in my opinion, in order to agree, that’s enough “, – said Novak.

He added that the advice on freezing oil production will still be with Mexico and Norway. “Obviously, with them (Mexico and Norway) will also be carried out relevant consultations. By the way, when we met in 2014 in Vienna for the first time, as soon as prices started to fall, Mexico participated in the negotiations. So I think they will also be constructive and here to consult the account of the approaches that we discussed, “- said Novak.

He also said that Russia will retain a share of the oil market, if countries agree on the frozen prey. “Of course, because if the market supply does not increase, the share of each of the exporting country will be the one that was” – said Novak, answering the question of whether the Russian Federation will keep its share of the world oil market, if the oil-producing countries will be able to agree on freezing of raw material production in 2016.

He also noted that “the price of oil at $ 50 per barrel in the long term would satisfy both consumers and exporters.”

On Friday, the deputy head of the Ministry of Energy of Russia Alexey Teksler said that countries monitoring compliance with the agreement to freeze the level of oil production in the case of achieving them will not be difficult.

On Thursday, the Energy Ministry said that Moscow agreed with a number of representatives of the OPEC countries do not exclude the growth of oil production in Russia in the current year by 1.9%.

On Tuesday, after the meeting in the Qatari capital Doha between Russian Energy Minister Alexander Novak and members of OPEC had agreed to keep the readiness of oil production at the level of January, if other manufacturers will join the initiative.

The Kuwaiti authorities have informed that they are ready to freeze at the level of oil production to 3 million barrels per day. The same was said and Iran. Saudi Arabia has refused to cut production.