MOSCOW (Sputnik) — World prices for Brent oil grew on Tuesday to $35 per barrel on reports that a number of OPEC countries and Russia will hold talks later in the day in the Qatari capital of Doha in regard to the situation on the oil market, according to market statistics.
As of 07:16 GMT, April futures on North Sea Brent oil grew by 4.91 percent to $35.03 per barrel. March futures for WTI oil also gained 4.98 percent, reaching $30.91 per barrel.
They are expected to be joined by Venezuelan and Qatari counterparts. Qatar is holding the rotating presidency of the Organization of the Petroleum Exporting Countries (OPEC), the group in control of over 80 percent of the world’s proven oil reserves.
Since the collapse in oil prices in the first half of January, officials from the OPEC member states and non-OPEC countries have been mulling a meeting to address the slump in oil prices, which has caused significant financial problems for some nations.
