Kazakhstan will take part in an informal meeting of OPEC in Istanbul – media Mail.Ru

OPEC Representatives and the six countries that are not members of the organization, will meet on October 12 in the framework of the world energy Congress in Istanbul, RIA Novosti reports.

“the Meeting will be held in an informal format with the objective of the consultation for the freezing of the level of oil production between the energy Ministers of Algeria, Saudi Arabia, Qatar, Kuwait, Gabon, UAE, Venezuela and Russia as well as Brazil, Kazakhstan, Azerbaijan, Mexico and Oman. The meeting will be held on October 12,” — said in the Ministry of energy of Azerbaijan.

the Exact date of the meeting was not previously called. It is saying only that it is scheduled to take place in Istanbul during the world energy Congress, that is, October 9-13. Not officially published the list of participants. Earlier it was reported that the oil-producing countries outside the cartel, agreed to reduce the level of oil production to 32.5−33 million barrels per day — about 700 thousand barrels lower than the current level. K.

the way, the OPEC will reduce oil production for the first time since 2008. The price of Brent crude oil, however, have risen by nearly 6 percent. The volume of production for each country in the cartel will be determined to the next formal meeting of OPEC to be held in November. The organization relies on adherence to the measures to stabilize the market of a number of other oil-producing countries, particularly Russia.

In turn, the economist Astana Best Consulting Group CEO Bayhanov stated that if the representatives of the OPEC countries agreed to reduce the level of oil production, then got to the question about the future of the organization.