Dvorkovich rule out a further decline in oil prices at freezing production – RBC

Deputy Prime Minister Arkady Dvorkovich, Photo: Anna Isakova / State Duma press service of the Russian Federation / TASS

Deputy Prime Minister Arkady Dvorkovich exclude further fall of oil prices in the event of freezing production by OPEC and other gosudrarstvami supplying oil

If the OPEC countries and other oil suppliers, not members of the cartel agree freeze production, a further fall in oil should not be the price, said Deputy Prime Minister Arkady Dvorkovich, answering the question of how to react to the oil price on such an agreement.

«Projections are difficult do, but any serious drop in there should be no future “, – Dvorkovich told reporters on the sidelines of the Krasnoyarsk economic forum (quoted by Tass)

Earlier, on Tuesday, February 16 Russia, Saudi Arabia. Qatar and Venezuela after talks in the Qatari capital of energy ministers of these countries have announced readiness to freeze oil production at the level of January 2016, to hold back the glut in the market and raise prices.

Message on countries’ negotiations resulted in the growth of oil prices, of Brent It rose above $ 35 a barrel. However, after the announcement that the country discussed the freezing of production, but not its reduction, oil prices began to decline.

The next day, representatives of OPEC in Tehran held talks with Iran and Iraq, hoping to convince them to join agreement. Iran during the negotiations insisted that he needed to return to the markets lost during the time when he was under sanctions, and that his actions do not impact significantly on the excess of oil. During the year, Tehran intends to increase exports by 1 million barrels per day. Iranian Oil Minister Bijan Zanganeh after the talks expressed very carefully, saying that his country supports the initiative to freeze production as a first step to a balanced market and price recovery.

On Thursday, 18 feralya, Brent oil cost e at the London ICE exchange in the area of ​​$ 35 a barrel with fluctuations in the range of $ 34.35 to $ 35.44 per barrel.

at the auction on February 19 April Brent futures fell below $ 34 per barrel. On the eve of Saudi Arabia has said it will not cut oil production. UK and has repeatedly voiced this position, stressing that Riyadh will arrange the price of oil to $ 20 per barrel.