18:31 GMT +322 November 2019
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    Iranian oil technician, right, and coworker  work at the oil separator facilities in Azadegan oil field, some 480 miles (800 kilometers) southwest of the capital, Tehran, Iran

    Iran, Saudi Arabia More Flexible in Readiness to Reach Deal Regarding Oil Output

    © AP Photo / Vahid Salemi
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    Iran and Saudi Arabia are becoming more flexible in regard to possible deal on oil output freeze and aiming to reach corresponding agreements, Russian Energy Minister Alexander Novak said Tuesday.

    ALGIERS (Sputnik) —The informal meeting of 12 OPEC member states and possibly non-OPEC oil producers is expected to take place on September 28 on the sidelines of the International Energy Forum (IEF), where plans to reverse the drop in global oil prices amid ongoing overproduction could be sketched out.

    "In my opinion the sides [Iran and Saudi Arabia] have become more flexible and more determined to reach specific agreements," Novak told reporters in Algeria, where he is taking part in the IEF running from September 26 to 28.

    In April, major oil-producing states failed to reach an output-freezing agreement in Doha, Qatar. Saudi Arabia, which had previously said that it would freeze output only if Iran followed suit, cited Tehran’s absence from the talks as the reason for not supporting an output freeze.

    Related:

    Russia to Evaluate OPEC Options of Oil Output Freeze Based on Market Interests
    OPEC Ministers Not Expecting Official Decision on Oil Output Freeze on Wednesday
    Norwegian Petroleum Minister Rules Out Participation in Oil Output Freeze
    Tags:
    oil output, OPEC, Saudi Arabia, Iran
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