MOSCOW (Sputnik) — In mid-February, the energy ministers of Russia, Saudi Arabia, Qatar and Venezuela held talks on the current oil market situation in the Qatari capital of Doha and agreed to freeze oil production at January levels throughout 2016 if other countries followed suit.
"In Algeria, they support the idea of curbing oil output at January levels and have expressed readiness to take part in the meeting of OPEC and non-cartel members' leaders with the aim of working out a coordinated strategy on correcting world prices for the commodity," Zolotov told RIA Novosti.
Earlier on Wednesday, Qatari Energy Minister Mohammed Bin Saleh Sada reportedly stated that the meeting of Organization of the Petroleum Exporting Countries (OPEC) members and non-OPEC oil producers would take place on April 17. Around 15 countries will attend the meeting, according to the minister.
Global oil prices plunged from $115 to less than $30 per barrel between June 2014 and January 2016, hitting their lowest levels since 2003 amid an ongoing glut in global oil supply. The slump has caused significant financial problems for many oil exporting countries.
