A meeting of representatives of oil-producing countries will be held March 20 in Russia. On Thursday, March 3, RIA Novosti reported with reference to Bloomberg Agency.
“We’re starting to see oil prices grow very slowly,” said the Minister of oil of Nigeria Emmanuel Cacique, speaking in the Nigerian capital. According to him, if the meeting in Russia between OPEC members and countries outside the organization, will take place, “we should see a significant change in oil prices”.
March 1, Russian energy Minister Alexander Novak said that over 15 countries have publicly confirmed readiness to freeze oil production at the level of January 2016. The decision to freeze the level of oil production joined the countries that produce 73 percent of oil in the world.
At a meeting in Doha on February 16, Russia and several OPEC members (Saudi Arabia, Qatar, and Venezuela) agreed to freeze oil production in order to support the quotation, subsided for a year and a half by 70 percent. Also about the intention to join the agreement said Iraq and Kuwait, and on 20 February they were joined by Nigeria.