Countries outside of OPEC should cut oil production − Saudi Arabia

Страны, не входящие в ОПЕК, должны снизить нефтедобычу − Саудовская Аравия

The Minister of energy of Saudi Arabia Khalid al-Faleh, urged States not members of OPEC to reduce oil production.

The Minister of energy, industry and mineral resources Saudi Arabia Khalid al-Faleh urged countries not members of OPEC, to stay the course the decline in oil production, RIA Novosti reported.

At a press conference on Sunday, November 27, in the headquarters of the Saudi oil company Aramco, al-falih said that States that are not members of OPEC, should keep to the decline in production.

According to him, in 2017 is expected to improve demand for Saudi oil.

“We believe that the price balance will be restored, and we expect that demand will improve in 2017. Then prices will be balanced, and it will happen without the intervention of OPEC,” said al-Faleh.

Of the Russian Federation has approved the accession to the agreement by OPEC on oil production

Recall, September 28 OPEC countries reached an agreement on the limitation of oil production at the level of 32.5-33 million barrels per day.

However, specific limits for each of the countries of the organization while there is no agreement.

It is expected that the decision will be made on the official OPEC meeting on November 30 in Vienna.