By February 2, 2016 0 Comments Read More →

Russia open to meeting with major oil producing countries

Russia looks for meeting between OPEC and other oil producing countries

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Russia says it is “open for other forms of co-operation” and suggests a meeting with fellow major oil-producing countries.  Rosneft photo.

ABU DHABI, United Arab Emirates _ Russia says it is open to a meeting with fellow major oil-producing nations to discuss production levels amid a plunge in global oil prices.

Foreign Minister Sergey Lavrov told reporters in the United Arab Emirates on Tuesday that Moscow is “open for other forms of co-operation, if there is general interest in holding a meeting between OPEC members and producer countries.”

Russia is not a member of the Organization of the Petroleum Exporting Countries.

Last month, the price of oil fell below $30 a barrel, causing the ruble to plunge to record lows.

Russia’s Energy Minister Alexander Novak last week said there were efforts to convene talks among top exporters, though the Kremlin has said there are no concrete plans to cut oil output in co-ordination with OPEC members.

The Canadian Press

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