Riyadh said that it will not freeze the oil if the other producing countries, including Iran, and do not limit production. Previously, Iran has refused to participate in scheduled for Sunday meeting in Qatar’s Doha and said it has no plans to freeze the oil, since it is necessary to enter the dosanktsionny level.
Saudi Arabia said it was ready to freeze the oil, only on condition that other producers in the forthcoming meeting in Doha will be used for similar steps.
What do you expect the market to meet in Doha
The meeting of oil producers in Qatar Doha, that the market was waiting for two months, will sum up the efforts of the interim and Russia OPEC to stabilize oil supply. Although, according to “Kommersant”, the idea of freezing production principle is approved, in spite of the Non-Aligned Iran is far from clear that the agreement will satisfy the expectations of the market. Analysts generally skeptical, believing that the results of the meeting, whatever they may be, is likely to lead to a decrease in oil prices
Previously, Iran has refused to participate in talks scheduled for Sunday. Iran’s Deputy Oil Minister Amirhosseyn Zamani-Nia said that he sees no reason to take part in the negotiations, as his country should withdraw production from dosanktsionny level, that is, up to 4 million barrels per day. In February, Iran’s daily production was about 3 million barrels. In response, the second Crown Prince and Defense Minister of Saudi Arabia Mohammed bin Salman said that the kingdom may limit production at the level of 10.3 – 10.4 million barrels per day, but it would not do if the same thing will not make the rest strany- producers including Iran. At the same time, he stressed that for the successful development of the oil sector of the economy of his country does not need the high prices. “The rise in prices to $ 60 or $ 70 will be a strong impetus for the development, but it is not my fight. The case of those who suffer from low oil prices, “- said the prince. He added that Saudi Arabia can immediately increase production to 11.5 million barrels per day, and for six months to bring it to 12.5 million barrels per day. “If the major manufacturers do not freeze the production, we also will not do. If we do not restrict the production, we will sell oil at every opportunity, “- said Mr. bin Salman
Previously, a number of sources have reported that Moscow was able to negotiate with Saudi Arabia to freeze. oil, without reference to Tehran’s position. However, the Ministry of Energy of the Russian Federation refused to comment, offering to wait until April 17, when in Doha has to pass a key round of consultations of the largest oil-producing countries on the freezing of oil at the beginning of the year.
Meeting of the OPEC member countries and countries that are not members of the organization will be held in Doha on Sunday. According to the plan, it should take the interim results of Russia and the OPEC countries’ efforts to stabilize the oil market. Earlier, at the last meeting, which took place on February 16, Russia, Saudi Arabia, Qatar and Venezuela have agreed to maintain production at the level of January throughout 2016, but only on condition that other manufacturers will join the initiative.
Iran will not drive to Doha strength
The world’s leading oil producers are ready to conclude an agreement on the freezing of oil production without the participation of Iran, He confirmed the April 13 Russian energy Minister Alexander Novak. Earlier, the Russian official held talks with Saudi Oil Minister Ali al-Naimi: Now, apparently, the ministers will meet for 17 of April in the Qatari capital Doha, where he planned to sign an agreement to freeze oil production. Read more
With the Doha Agenda of the market was removed
In the largest countries – oil producers are increasingly likely to sign an agreement on freezing production at a meeting in Doha on 17 April. According to unofficial information, it was able to convince Moscow to Riyadh to support the shelf production at the beginning of the year, without regard to the increase in production in Iran. The reason for the consent of the Saudis may not be as intense as expected, production recovery, as well as an understanding of what is now waiting for Tehran freeze meaningless production. Read more
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