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Saudi Arabia lays down its condition for signing oil production freeze agreement

April 20, 2016, 17:31 UTC+3

Saudi Arabia wants all OPEC members and large oil producing countries to take part in the oil production freeze agreement

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MOSCOW, April 20. /TASS/. Saudi Arabia has made it a condition for oil production freeze agreement that all OPEC members and large oil producing countries should take part in it, Russia’s Energy Minister Alexander Novak said on Wednesday.

"Saudi Arabia has made it as a condition for signing freeze production agreement that all OPEC member countries and major exporters outside the cartel are obliged to comply with it. Unfortunately, they did not specify what they meant by major exporters," he said.

On April 17, Doha, Qatar, hosted a meeting of representatives of oil-producing countries. The meeting was attended by the delegations from 18 countries. The 19th participant - Iran - on the eve of the meeting refused to discuss the "freeze" of oil production. Teheran explained it by the recent removal of sanctions that were imposed on Iran.

The participants of the meeting failed to agree on the "freeze" of oil production level.

After the talks that lasted more than 12 hours, the parties stated that they need a little more time to think, and the market is currently doing well.

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