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Russian energy minister participating in meeting with OPEC representatives — media

February 16, 11:49 UTC+3 KUWAIT
The meeting is also attended by oil and energy ministers of Saudi Arabia, Qatar and Venezuela
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Russia’s Energy Minister Alexander Novak

Russia’s Energy Minister Alexander Novak

© AP Photo/Ivan Sekretarev

KUWAIT, February 16. /TASS/. Russia’s Energy Minister Alexander Novak is participating in the meeting with representatives of the Organization of the Petroleum Exporting Countries (OPEC) member-states in Doha (Qatar capital), Reuters news agency reported on Tuesday.

The meeting is also attended by oil and energy ministers of Saudi Arabia, Qatar and Venezuela, the agency said.

Several western media reported on Monday that the talks would be held there.

The agenda is not reported. However, earlier Novak said a meeting of representatives of OPEC states and other oil producers might be held in February in order to discuss low oil prices and potential production cut coordination.

Venezuela’s Oil Minister Eulogio del Pino in early February said that representatives of 6 member-states of the Organization of the Petroleum Exporting Countries (OPEC) were ready to participate in an emergency meeting on coordinated reduction of oil production with non-OPEC members. According to the minister, such OPEC member-states as Iraq, Algeria, Nigeria, Ecuador, Iran and Venezuela as well as non-OPEC members Oman and Russia had given their consent.

Russian Energy Minister Alexander Novak earlier confirmed Russia’s readiness to take part in consultations with OPEC member states and oil producing countries outside the world oil cartel, if such talks were held.

The Russian energy minister said such consultations could discuss oil output cuts by each of these oil producing countries by up to 5%.

Iran suggests holding consultations on oil market situation with Russia, Iraq, Venezuela

Tehran earlier proposed to hold consultations on the situation on the energy market together with Russia, Iran, Iraq and Venezuela.

"Our proposals is that countries that produce oil - Iran, Russia, Venezuela and Iraq - hold more consultations on the situation on the energy market," Iran’s Supreme Leader Ayatollah Ali Khamenei’s top adviser on international affairs, Ali Akbar Velayati,  told a roundtable at the Russian Strategic Research Institute.

Velayati, who also heads the Center for Strategic Research, is visiting Moscow on the invitation of Russian Strategic Research Institute’s director Leonid Reshetnikov.

 
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