07:58 GMT +3 hours24 August 2016
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Moscow's Position on Russia-OPEC Oil Consultations Unchanged - Kremlin

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Russian position on the issue of consultations with the Organization of the Petroleum Exporting Countries (OPEC) member states and on-OPEC countries on global oil prices has not changed, Kremlin spokesman Dmitry Peskov said Wednesday, adding that the date for the talks has not been set yet.

MOSCOW (Sputnik) On Tuesday, Peskov told reporters that Russia was in contact with other oil-producing countries and would maintain such contacts, because these ties were essential for the country's economy.

"No, there are no any certain dates… Nothing has changed in this issue," Peskov told reporters, answering the question about the dates of possible consultations with OPEC.

On Monday, Russian Energy Minister Alexander Novak and Venezuela's Oil Minister Eulogio Del Pino discussed the possibility of holding oil consultations with both OPEC members and non-cartel countries. During the meeting Novak reconfirmed Moscow's readiness to participate in the consultations. On Tuesday, Russian Foreign Minister Sergei Lavrov said that Russia would join an OPEC meeting with non-member states should it take place.

Global oil prices have recently dropped to the lowest level of $30 per barrel since 2003. The slide in oil prices was caused mostly by oversupply, low demand and unwillingness of oil-producing states worldwide to cut their output.

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oil prices, OPEC, Alexander Novak, Dmitry Peskov, Russia
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