Russia-OPEC talks on oil output freeze may continue, require more time
Russia's negotiations with Organization of the Petroleum Exporting Countries member states on freezing oil production levels may continue, but require additional time to consider positions of Saudi Arabia and Iran toward the deal, Russian Permanent Representative to OPEC Vladimir Voronkov said Sunday, Sputnik reported.
On Sunday, the Qatari capital is hosting talks of the Organization of the Petroleum Exporting Countries (OPEC) members with other oil producing states.
The negotiations are aimed at securing a deal to freeze oil output to stabilize slumping global oil prices.
In February, the energy ministers of Saudi Arabia, Qatar, Venezuela, and Russia discussed the current oil market situation in Doha and agreed to freeze oil production at January levels if other countries followed suit, in a bid to keep the oil prices from falling further.
"According to how the situation has developed, the negotiations will probably continue. The question is very difficult, we need additional time to align [positions of oil producing countries]," Voronkov told RIA Novosti.