The organization of countries – exporters of oil (OPEC) has invited other oil-producing countries, including Russia, for a meeting on 28-29 October in Qatar to develop the road map and the main mechanisms of interaction. About it as transfers “Interfax”, told journalists the Minister of oil of Qatar Mohammed bin Saleh al-Sada.

At the meeting, according to the Qatari Minister, can be worked out the technical details and mechanisms of cooperation between oil producing countries and non-OPEC, and developed a road map for such interaction. “This will allow us to better understand the positions of countries,” he added.

As noted by the Russian Minister of energy Alexander Novak, OPEC urged countries not members of the cartel, to take an active part in the discussion, which will take place on October 29.

Novak also said that his meeting with the energy Ministers of several countries OPEC on Wednesday in Istanbul, was not discussed specific figures for the reduction or freezing of production.

In response to the question, do you plan to call for a meeting of representatives of the United States, the Minister recalled that “the United States is the third country in the world in production”.
Recall, 28 September OPEC members at an informal meeting in Algiers, unexpectedly for themselves have agreed to cut oil production to 32.5-33 million barrels per day (b/d).

Now OPEC forms a coordination Committee, which in November will present the final proposal to limit oil production. Should also set individual quotas for countries. It is expected that a final decision can be made at the November meeting of the organization.

According to the International energy Agency (IEA), in September, production in OPEC countries was at a record level of 33.64 million b/d (+160 thousand b/d in August), including as a result of entering Iraq to the historic maximum production.

October 10, Russian President Vladimir Putin said at the world energy Congress in Istanbul that Russia is prepared to participate in the freezing or reduction of oil production.

Experts note, warning that the new initiative of OPEC is only a statement of intent, members of the cartel producers controlling less than half of world production, has so far failed to agree on who and how reduces the prey, not to mention to sign the binding document.

OPEC has invited other producing countries to meet and discuss the interaction 12.10.2016

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