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Russia-OPEC dialogue to take place in Vienna in October — minister

August 16, 2016, 14:38 UTC+3

The exact date will be announced in the near future

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MOSCOW, August 16. /TASS/. A meeting of Russia-OPEC energy dialogue will be held in October in Vienna and the exact date will be set soon, Russia’s Energy Minister Alexander Novak said.

"It is planned that the meeting will be held in October in Vienna. The exact date will be agreed via diplomatic channels in the near future," the Minister said as quoted by his ministry’s press service.

Since September 2012, Russia and OPEC hold meetings which became known as Energy Dialogue Russia-OPEC.

The fourth and the last meeting was held in Moscow on July 30 2015. At that meeting the parties discussed the situation on the oil market, as well as medium-and long-term prospects of its development.

OPEC consists of 13 members, which are oil-exporting countries - Angola, Venezuela, Indonesia, Iran, Iraq, Qatar, Kuwait, Libya, Nigeria, UAE, Saudi Arabia, Ecuador and Algeria.

The cartel’s members control around 70% of global oil reserves and account for one third of the world’s crude production.

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