Date: 5 months ago   Category: Economy

The countries of OPEC could not agree about oil production reduction


Against the background of falling of the world prices for oil experts predicted that they of OPEC will agree about reduction of its production. But the meeting of the export countries of oil in Vienna came to the end without results. Consultations will continue on December 7.

of 15 members of the Organization of Petroleum Exporting Countries of OPEC in the evening on Thursday, December 6, completed negotiations in Vienna, without having reported about achievement of the arrangement on reduction of volume of oil production for the purpose of maintenance of the prices of these raw materials. The press conference following the results of hours-long discussions was cancelled. the Minister of Energy of Saudi Arabia Khaled bin Abdel Aziz al-Falekh said

on the road from the OPEC headquarters in Vienna that he cannot tell for certain whether the agreement at the meeting of member countries of cartel with the states which are not entering into OPEC including with Russia coming on December 7 will be reached.

of OPEC shows total absence of unity against the background of decrease in the world prices for oil almost by 30 percent for the last two months. After the cartel countries could not agree on December 6 about reduction of volume of oil production, the world prices for oil fell again. In the evening on October 6 Brent crude oil cost 59.45 dollars for barrel after more than 61 dollar in the morning of the same day.

Even prior to negotiations in Vienna, al-Falekh said that the OPEC can agree about reduction of volumes of oil production on 500 thousand - one and a half million barrels a day.

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