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    Russia Proposes IEF Section for Oil Market Dispute Among OPEC, Other States

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    Oil in Turmoil (134)
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    Russian Energy Minister Alexander Novak proposed on Tuesday to form a special section at the International Energy Forum (IEF) to discuss the global oil market situation among OPEC members and non-member states.

    MOSCOW (Sputnik) — Novak said in a statement published by the ministry that the IEF's role in stabilizing the oil market could be enhanced by advancing dialogue with major oil producers and consumers.

    "One of the elements of this enhancement could be a special section of OPEC, non-OPEC exporters and major non-exporting manufacturers to discuss disputes in the global market," the minister said.

    Representatives of 73 IEF members have converged in Algeria for the September 26-28 conference on oil-related issues.

    The informal meeting of 12 OPEC member states and possibly non-OPEC oil producers including Russia is expected to take place on the sidelines of the IEF on Wednesday, where plans to reverse the drop in global oil prices amid ongoing overproduction would be sketched out.

    Oil in Turmoil (134)


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    oil, International Energy Forum (IEF), Russian Energy Ministry, OPEC, Alexander Novak, Russia
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