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Talks on oil production freeze will start after meeting with Qatar emir - source

April 17, 10:49 updated at: April 17, 13:55 UTC+3
Oil producers have come to Doha (Qatar) for talks aimed at stabilizing oil prices and "freezing" the production at January 2016 level
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©  AP Photo/Hasan Jamali

DOHA, April 17. /TASS/. The participants of Doha talks are having a meeting with the Emir of Qatar. The discussion of crude production freeze will start after the meeting with Qatar Emir, a source familiar with the talks told TASS.

"The talks will start after the meeting with the Emir," the source said. Another source in OPEC confirmed the information to TASS.

Oil producers, both members and non-members of OPEC, have come to Doha (Qatar) for talks aimed at stabilizing oil prices and "freezing" the production at January 2016 level.

Prior to the meeting representatives of a number of countries talked with journalists. Russia’s Energy Minister Alexander Novak said he was optimistic about the prospects of reaching an agreement. Ecuador’s Minister of Hydrocarbons Carlos Pareja Yannuzzelli, Oman’s Oil Minister Mohammed bin Hamad Al Ruhmy and Venezuela’s Oil Minister Eulogio Del Pino share the view. Acting Oil Minister of Kuwait Anas Al-Saleh said earlier on Sunday he is confident a respective decision will be taken.

No representatives of Iran have come to the meeting. The country "will not give up its historic production quota," the country’s Minister of Oil Bijan Namdar Zangeneh said in a statement. "The Doha meeting is meant for the parties planning to participate in the crude production freeze plan whereas our participation in the meeting is not obligatory as Iran will not sign a plan like this," he said.

The draft agreement to be discussed by those attending the meeting, suggested "freezing" the production at January level through to October, 2016. However, Saudi Arabia requested to make "last-minute changes" in the draft agreement before the talks started, Reuters reported with reference to sources.

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