09:28 GMT +317 December 2017
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    Bahrain to Back Any Oil Producers' Decision Stabilizing Prices

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    Bahrain will support any decision of the leading oil-producing countries in order to stabilize global prices of hydrocarbons, Bahrain's Ambassador to Russia Ahmed Abdulrahman Saati told Sputnik.

    Russian President Vladimir Putin (R) welcomes Bahrain's King Hamad bin Isa Al Khalifa during a meeting at the Bocharov Ruchei state residence in Sochi, Russia
    © REUTERS/ Alexander Zemlianichenko/Pool
    MOSCOW (Sputnik) – Bahrain is not a member of the Organization of the Petroleum Exporting Countries (OPEC), but its representatives participated in the oil producers meeting after the closing session of the International Energy Forum conference in Algiers, the ambassador noted.

    "We support any agreement that will be achieved by major producing countries, since we rely on oil. Our situation is similar to that of Russia and other producers," Saati explained.

    He stressed that fixing the level of oil production that might entail the stabilization of prices would be in the interests of Bahrain.

    On September 28, OPEC member states agreed on cutting its oil production to 32.5-33 million barrels per day for the whole cartel, however, no exact limits for each country have been placed. The OPEC countries are set to finalize the agreement on oil output freeze at the OPEC summit in Vienna on November 30.

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    forum, energy, oil price, oil production, OPEC, Bahrain
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