Sunday, April 17, 2016

Nowak told about the sudden change in the position of a number of OPEC in Doha – RBC

Russian energy Minister Alexander Novak

Photo: Ruslan Shamukov / TASS

Before the meeting of the freezing of oil in Doha number of OPEC countries have changed their position and put forward additional requirements, said Energy Minister Alexander Novak. The meeting ended without results

A number of OPEC countries before the meeting in Doha, dedicated to the development of an agreement on freezing oil, changed their position, which gave rise to a lengthy discussion. This was told after the meeting, which ended without the signing of the agreement, Russian Energy Minister Alexander Novak.

«Today we have long discussed, and this is due to the fact that a number of countries, OPEC, changed this morning, literally before the beginning of our meeting, his position, and in fact suggested that the agreement was carried out under the condition that will involve all members of OPEC, as well as major exporters, non-OPEC, which now was not at the meeting “, – quotes the Minister of RIA News.

He added that the new demands put forward the Gulf countries. “This is Saudi Arabia and a number of countries, which are included in OPEC, including the UAE, Kuwait, itself Qatar, provisionally Gulf countries”, – Novak told

He said that an agreement was being prepared within two months. . “Yesterday [on Saturday, April 16] The experts of the four countries have prepared the relevant document, it was agreed by the experts of Saudi Arabia, Qatar, Russia and Venezuela, and called for freezing production at the level of January 2016 up to October this year”, – he explained the Minister <. / p>

Novak added that countries outside of OPEC, including Russia, will be willing to consider participating in the next meeting, if such an agreement will be reached. “We basically believe that the door is not closed and that there are opportunities even further carry out appropriate consultations”, – he said and added that “we will not be so optimistic about such arrangements»

Lack. agreement, he said, will have consequences for Russia. Novak said that “the market situation should equalize supply and demand.” Novak believes that the balance in the market come to the middle of 2017

«I believe that we have not reached the expectations that were in the process of the preparation for this meeting,” -. The Minister said (quoted by “Interfax »).

Negotiations on the level of production freeze began in Doha on Sunday, April 17 and lasted about six hours, but ended without agreement signing. Reuters source said that OPEC said negotiating partners who are not part of the oil cartel, that they intend to achieve the first single solution within the organization at the summit, which will take place in June. Then maybe another meeting with representatives of States, non-OPEC countries, including with Russia.

The Minister of Energy and Qatar Industry Mohammed bin Saleh Al Sada said after the meeting that the participants in the negotiations concluded that they needed more time for discussion. He pointed out that the market situation has improved since the first meeting with the participation of Saudi Arabia, Russia and Venezuela, which took place in mid-February.

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