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Russia: The deal with OPEC may encourage all global oil producers

The ministers of Russia and Saudi Arabia met on Sunday to discuss the details of agreement.

24.Oct.16 1:43 PM
By Alesya Davydova
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Russia: The deal with OPEC may encourage all global oil producers

The probable deal between OPEC and non-OPEC members would satisfy all global oil producers that are thinking over joining the output-freeze agreement, Russia's energy minister Alexander Novak said after his meeting with Saudi Arabian counterpart Khalid al-Falih and other Gulf oil ministers on Sunday.

The countries discussed the situation on the wordís energy market and probable joint measures to rebalance the market. Novak mentioned that Russia considers the possibility to join the OPECís decision to limit production levels.

"The solutions that have been developed now will satisfy all the countries," the Russian minister said after the talks with Falih, according to his press office. "But it is too early to speak about concrete figures as the process of coordination of the positions is under way," Novak added pointing that the work will go on until the end of November when OPEC-members are expected to meet with other oil producing countries in Vienna.

Before that Novak said that Russia sees its September level of production as optimal for freezing.

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