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The Minister of energy of Russia: the freezing of oil production will increase the price to 50 dollars

The Minister of energy of the Russian Federation Alexander Novak believes that the implementation of the decision to maintain oil production at the level of January 2016 will bring back the prices for «black gold» at the level of 50 dollars per barrel.

Alexander Novak in interview to TV channel «Russia-1» said that the decision not to increase oil production was supported by the exporters, which accounts for 75% of the volume of energy carriers on the world market.

According to recent reports, an agreement to freeze production support Russia, Venezuela, Saudi Arabia and Qatar, and Oman, Algeria and Nigeria.

Novak expressed hope for accession to the agreement of Iran, who is skeptical of the initiative on the freezing of oil production in the fight for higher prices, as fears of losing their market share.




The Minister of energy of Russia: the freezing of oil production will increase the price to 50 dollars 20.02.2016

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