17:12 GMT +316 July 2019
Listen Live
    Oil production.

    15-16 Countries to Take Part in Oil Production Freeze Meeting - OPEC Chief

    © AP Photo / Hasan Jamali
    Business
    Get short URL
    123

    Representatives of 15-16 oil producing countries are expected to participate in the upcoming meeting on the oil production freezes, the Organization of the Petroleum Exporting Countries’ (OPEC) Secretary General Abdalla Salem Badri said Monday.

    VIENNA (Sputnik) – Major oil producers are expected to meet in Doha, Qatar, on April 17 to discuss oil production freezes.

    "Fifteen-sixteen countries that are major producers will attend [the meeting], it’s not a bad number," Badri told a press conference in Vienna, adding that not all OPEC member states were going to participate in the meeting.

    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 oversupply in global oil supply.

    In February, the energy ministers of Saudi Arabia, Qatar, Venezuela, and Russia discussed the current oil market situation in the Qatari capital of Doha and agreed to freeze oil production at January levels if other countries followed suit.

    Related:

    Russia's Daily Oil Output in 2016 Forecast at 10.81Mln Barrels – OPEC
    OPEC, Other Oil Producers to Hold Talks in Moscow – Iraqi Oil Ministry
    OPEC 'Artificial' Pricing Model Less Effective Than Market Dynamics
    Tags:
    oil production, oil prices, OPEC
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik