MOSCOW (Sputnik) – Russia and some of the biggest OPEC oil-producers are attempting to negotiate a deal to freeze output at January levels, hoping the action will eventually cause oil prices to rise.
"Such predictions are difficult to make, but there should be no serious [oil price] drop in the future," Dvorkovich told journalists on the sidelines of the Krasnoyarsk economic forum on Friday when asked about the effect of the possible output freeze.
On Tuesday, Russia, Saudi Arabia, Qatar, and Venezuela held talks on the current oil market situation in the Qatari capital of Doha and agreed to proceed with the output freezing initiative if other countries followed suit. The proposal was later backed by Ecuador, Algeria, Nigeria and Oman.
