Venezuela’s oil minister has called the timing of reversal of raw material prices – RIA Novosti

© AP Photo / Hasan Jamali

MEXICO CITY, Feb. 17 -. RIA Novosti Minister of Venezuelan oil Eulogio del Pino said that the real recovery in oil prices after an agreement between the four countries to freeze the level of production is expected in six months.

following the meeting in Doha on Tuesday between Russian energy Minister Alexander Novak and representatives of Saudi Arabia, Venezuela and Qatar has been agreed its readiness to keep the oil in average in 2016 at the level of January this year, when other manufacturers join this initiative.

“This is a very significant agreement relating to 24 million barrels per day, and the production of all OPEC is 32 million barrels per day, as a recovery in demand and maintain the offer starts and recovery of oil prices, “- leads channel Telesur word del Pino

according to him, within four months from the date of the OPEC price freeze and Russia. will monitor the situation on the oil market and the execution of this agreement.

The Minister also said that on Wednesday sent to Tehran for meetings with his counterparts from Iran and Iraq, which he also hopes to convince of the need to join the agreement on freezing production levels.