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Output freeze to be discussed at next OPEC meeting

by ChemOrbis Editorial Team -
  • 22/04/2016 (13:16)
According to media reports, oil exporting countries will continue to discuss a possible output freeze in the next OPEC meeting, which will take place on the 2nd of June.

Oil producing nations had discussed a possible outpur freeze at their last meeting on April 17 in Doha, Qatar, although no agreement was reached as Saudi Arabia insisted on participation of all OPEC members, including Iran, in any output freeze deal. A preliminary deal on freezing output at January levels was signed between Russia, Saudi Arabia, Qatar and Venezuela in February, which helped oil prices to recover from a 12 year-low.

Nigeria’s oil minister told that they are going to attend talks with Saudi Arabia, Iran and other producers in May, adding that they remain hopeful about reaching an agreement in June.
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