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Russia, Saudi Arabia, Venezuela and Qatar have agreed not to increase oil production, Iran has refused

The Ministers of petroleum and energy of key members of the organization of countries-exporters of oil (OPEC), Russia, Saudi Arabia, Venezuela and Qatar have agreed not to increase oil production volumes in excess of the level established in January of 2016.

While Venezuela and Russia failed to persuade Saudi Arabia to agree to cut output.

The Iranian authorities, who did not participate in the meeting, said the refusal of the Islamic Republic to freeze the level of oil production.




Russia, Saudi Arabia, Venezuela and Qatar have agreed not to increase oil production, Iran has refused 17.02.2016

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