The old divisions may disappear soon after the Iran dosanktsionnogo production levels
Moscow. 5th of August. INTERFAX.RU – A number of OPEC countries, including Venezuela, Ecuador and Kuwait, want to revive the idea of freezing oil production, according to WSJ, citing several sources
The proposal to freeze production can be made by OPEC countries alike. and States that are not members of the cartel, such as Russia.
According to the publication, talks about the freezing of oil production, which took place in Doha in April this year, have failed because of disagreements Iran and Saudi Arabia. Then Iran refused to join the initiative of the production freeze, because I wanted to increase oil production to a level of 4.2 million barrels per day, which ensured the country before the introduction of Western sanctions. Saudi Arabia did not join the initiative without Iran. Currently, production is close to Iran’s stated four million barrels per day.
In addition, oil prices, after rising at an acceptable level in May-June of this year and return to the $ 50- $ 52 a barrel again started fall. Compared to June, the price of Brent crude oil fell by 17%.
One of the sources said that the question of returning to the freezing of production can be raised on the mining of Energy Ministers meeting in the framework of the International Energy Forum in Algeria which will be held September 26-28.
The head of the Ministry of energy and Mines of Venezuela Eulogio del Pino had already met with the Secretary General of OPEC, Mohamed Barkindo and discussed the coordination of oil production.
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