Oil producing countries adjusting oil production freeze draft agreement

"The text is being adjusted" - source

The participants in a meeting of the oil producing countries are adjusting an oil production freeze agreement at the talks, which are under way in Doha, a source with knowledge of the progress in the talks told Interfax.

"The text is being adjusted," he said, without specifying the essence of changes.

At first, the draft agreement envisaged an oil production freeze at the January 2016 level, which will be valid until October 2016. A special committee was expected to be set up to monitor the oil production freeze process. Neither other measures nor penal sanctions have been imposed. Another meeting of the oil producing countries was planned at the end of October, at which the oil production freeze effect needs to be assessed and further actions need to be decided. The meeting could have been held in Russia.

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