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Russia May Hold Meetings With Kuwaiti, Venezuelan Officials in Vienna

© Sputnik / Aleksey Nikolskyi / Go to the mediabankAlexander Novak, Energy Minister of the Russian Federation
Alexander Novak, Energy Minister of the Russian Federation - Sputnik International
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According to a source in the Russian delegation headed by Energy Minister, Russia may hold bilateral meetings with representatives of Venezuela and Kuwait in Vienna.

OPEC. (File) - Sputnik International
OPEC Chief: Vienna Oil Output Cap Deal to Stabilize Global Economy
MOSCOW (Sputnik) Russia may hold bilateral meetings with representatives of Venezuela and Kuwait in Vienna, a source in the Russian delegation headed by Energy Minister Alexander Novak said Saturday.

"We are going to carry out meetings with representatives of Venezuela and Kuwait," the source said, answering to the question on Novak's schedule.

Later in the day, an informal meeting of the representatives of oil-producing countries is expected to take place in Vienna.

On Sunday, the Committee on monitoring oil output reduction of OPEC and non-OPEC countries will held its first meeting. Chaired by Kuwait from the OPEC side and Russia from the non-OPEC side, the committee also includes Oman, Venezuela and Algeria.

In November 2016, OPEC agreed to cut oil production by 1.2 million barrels per day to 32.5 million barrels per day for the whole cartel starting January 2017. On December 10, 2016, OPEC finished a meeting with non-OPEC countries in Vienna, at which 11 non-OPEC producers decided to cut oil output by 558,000 barrels per day, with Russia cutting the output by 300,000 barrels per day from January 2017.

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