OPEC informal meeting did not result in a consensus on freezing

Almaty. November 30. Silkroadnews – Informal meeting of OPEC member states held in the morning has not resulted in a consensus on crude output freezing, TASS reports.

“We have not reached a consensus at the morning informal meeting”, Minister of Energy and Mineral Resources of Indonesia Ignasius Jonan said.

He also called Russia to be a key non-OPEC player.

“I think Russia will play an important role in implementation of OPEC’s decisions”, Minister has noted.

In his turn Khalid bin Abdulaziz Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia, said in case OPEC cannot take a decision to reduce oil production the market’s recovering will proceed slower.

He added, OPEC is discussing crude production reduction down to 32.5 million barrels per day, with the exception of Libya and Nigeria.

“I believe in 32.5 (million barrels per day), excluding volume productions of Libya and Nigeria. This proposal is the object of greatest attention. Saudi Arabia supports it”, he said, answering a question about a bar to be set for OPEC states.

OPEC ministers have to solve quotas distribution issue, Al-Falih has noted, having added as a whole they are quite optimistic about the meeting, though there is no decision yet.