Some OPEC States, Russia to Meet in Qatar Tuesday to Discuss Oil Production

© REUTERS / Sergei KarpukhinA worker checks a valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016
A worker checks a valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016 - Sputnik International
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Energy ministers of several Organization of the Petroleum Exporting Countries (OPEC) and Russia will hold talks on the current the situation in the oil market in the Qatari capital Doha on Tuesday, media reported Monday.

MOSCOW (Sputnik) — The meeting will be attended by ministers of Saudi Arabia,, Nigeria, Venezuela and Russia — Ali Naim, Emmanuel Ibe Kachikvu, Eulogio del Pino, and Alexander Novak, respectively, The Wall Street Journal reported, citing OPEC Sources.

Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, January 25, 2016 - Sputnik International
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Since the collapse in oil prices in the first half of January, officials from OPEC member states and non-OPEC countries have been considering holding a meeting to address the declining oil prices, which have caused significant financial problems for some states.

An oil tanker is seen off the port of Bandar Abbas, southern Iran (File) - Sputnik International
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In late-January, Novak said that the OPEC member states were trying to convene such a meeting in February and noted that Russia would take part in it were it to go ahead.

Last week, Russia’s permanent envoy to the International Atomic Energy Agency (IAEA) said that a meeting between the OPEC members and oil producers outside the cartel is not likely to take place soon due to Iran's return to the oil market, among other factors.

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