In Vienna began the meeting of the Committee of Ministers of the OPEC+

© RIA Novosti / Alexei Vitvitskiy in photobacteria OPEC meeting in Vienna. Archival photoIn Vienna began the meeting of the Committee of Ministers of the OPEC+© RIA Novosti / Alexei Vitvitskiy the image Bank

The meeting of the Ministerial monitoring Committee of OPEC+ started in Vienna, the correspondent of RIA Novosti from the scene of the meeting.

The meeting comes ahead of the meeting of OPEC member countries and the Ministerial meeting of OPEC countries and countries outside the organization. Members of the Committee will discuss the situation in the oil market, production levels of OPEC countries is expected to make recommendations on the possible extension of the agreement on the reduction of oil production by OPEC countries+.

Earlier Wednesday, the energy Ministers of Russia and Saudi Arabia Alexander Novak and Khalid al-falih held bilateral talks. Novak said that the meeting went well, but the negotiations to reach an agreement between OPEC countries+ about the levels of oil production will continue.

In addition, al-falih before the meeting of the Committee held a meeting with Ministers from Iraq, UAE, Kuwait, Oman, and Venezuela.

The head of the Ministry of energy also met with Secretary General of OPEC, Mohammed Barkindo.

Informed sources told RIA Novosti that OPEC wants to persuade Russia to cut production by at least 300 thousand barrels per day. While OPEC prepared to consider a gradual reduction of oil production in Russia.

In the Ministerial monitoring Committee of OPEC+ includes Saudi Arabia, Russia, Kuwait, Oman, Venezuela, Algeria. The meetings are also attended by the Minister of energy of the UAE Suhail al-Mazrui on the rights of the OPEC President and Secretary General of the organization.

OPEC and several non-organisation countries (OPEC+) agreed in late 2016 in Vienna on the reduction of oil production to 1.8 million barrels per day from the level of October 2016. The contract started from the beginning of 2017 and has been extended until the end of 2018. In June 2018 OPEC+ agreed goal is to escape from the fulfillment of the terms of the agreement, which then accounted for 47%. Recently traders talking about the risk of oversupply of the commodity on the market in 2019. It may encourage OPEC to return to the reduction of oil production.In Vienna began the meeting of the Committee of Ministers of the OPEC+© Infographicsrussia forces in the world oil market

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