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.
During the Doha summit, Saudi Arabia continued to insist that Iran, should be part of any production cuts despite Tehran forewarning that it only recently reappeared in the energy market after years of international sanctions and is not ready to join the oil output freezing deal.
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.
