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World oil prices

Amended agreement of oil-producing nations recognizes Iran’s stance - media

Earlier Iran’s Minister of Oil Bijan Namdar Zangeneh said the country would not give up its "historic production quota"

MOSCOW, April 17. /TASS/. The amended agreement of oil-producing countries on crude production takes into account Iran’s stance, Bloomberg reported with reference to sources.

The participants of the meeting in Doha will take the decision on oil output at around 2 pm Moscow time, Bloomberg said.

Earlier Iran’s Minister of Oil Bijan Namdar Zangeneh said the country would not give up its "historic production quota." No representatives of the Islamic Republic have arrived for the meeting.

Meanwhile Reuters reported with reference to its source that Saudi Arabia said it wanted all OPEC members to participate in the talks, including Iran.

"There is an issue. Experts are discussing how to find an acceptable solution. I'm confident they will come up with a solution," another source said.

Earlier it was reported that the participants of Doha talks were having a meeting with the Emir of Qatar. According to a source familiar with the talks speaking with TASS, the discussion of crude production freeze will start after the meeting with Qatar Emir.

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.

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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