Date: 10 months ago   Category: Economy

The countries of OPEC intend to attract to the transaction new participants - RIA Novosti, 9/23/2018


ALGERIA, 23 Sep — RIA Novosti. The countries of OPEC work on involvement of new participants to the agreement on level of production of oil, the president of OPEC, the Minister of Energy of the UAE Sukheyl al-Mazrouei has reported. "We also look at attracting the bigger number of participants to the transaction of OPEC and not - OPEC therefore our doors are always open for those producers which are ready to join us" — al-Mazrouei, speaking at a meeting of ministerial monitoring committee of OPEC. The OPEC and a number of the countries (OPEC) which aren't entering into the organization have agreed at the end of 2016 in Vienna about reduction of oil production on 1,8 million barrels a day from the level of October, 2016 from which 300 thousand fell on Russia. The contract started since the beginning of 2017 and has been prolonged until the end of 2018. In June, 2018 the OPEC has coordinated the purpose to avoid overfulfillment of terms of agreement which then made 47%. It was explained that in practice it will mean increase in production by 1 million barrels a day, including Russia — approximately on 200 thousand.

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