MOSCOW (Sputnik) – Earlier this month, OPEC and major non-OPEC oil producers failed to agree on freezing oil output at January levels to shore up prices after Riyadh unexpectedly backed out of an all-but-certain agreement.
“Saudi Arabia’s position is evolving, starting with not having any type of limitations, but now the situation has changed. Their position is evolving toward common understanding. I think that [an agreement] is possible,” Vladimir Voronkov said.
Oil prices have hovered at slightly above $40 a barrel in recent weeks. Brent crude has for the first time since December exceeded the $45 mark late on Wednesday, while WTI reached $43.66 per barrel.