"Venezuela has been in favor of this all along. It is the only country I have heard about because it’s where the disaster has hit [hardest]," Voronkov told RIA Novosti. "If declining prices persist, the question may get onto the agenda of other countries [too]."
Commenting on Iran’s recent suggestion that it would continue to increase production to reach pre-sanctions levels, the Russian diplomat said he was unsure that efforts to persuade Tehran would "lead to a desired result."
Voronkov said Russia’s stance in favor of cutting production remained unchanged so far, but it may reverse course "if there is a complete disaster with revenue."
Russia, Saudi Arabia, Qatar, and Venezuela held talks on the current oil market situation in the Qatari capital of Doha on February 16 and agreed to proceed with the output freezing initiative if other countries followed suit. The proposal was later backed by Ecuador, Algeria, Nigeria and Oman.
Despite a brief rally immediately following the decision, oil prices have so far remained largely unaffected.
