Russia and OPEC to discuss possible reduction of oil production — Transneft

Saudi Arabia came forward with the initiative to discuss a possible reduction of oil production, planned in the framework of the Organization of the Petroleum Exporting Countries (OPEC) in the near future.

Saudi Arabia came forward with the initiative to discuss a possible reduction of oil production, planned in the framework of the Organization of the Petroleum Exporting Countries (OPEC) in the near future, Transneft President Nikolai Tokarev said Wednesday.

"Saudi Arabia came forward with the initiative to have a discussion that would include the members of OPEC," he said after the meeting of oil companies executives and the Ministry of Energy.

Tokarev said the meeting was very constructive. "In particular, we talked about oil prices, the measures everyone should take, what is going to change the situation for the better, including the negotiations in the framework of OPEC in general and bilateral options as well. The initiative came from Saudi Arabia, they are the main negotiators," he said. 

First published by TASS.

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