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Oil producing countries meet on April 17

Oil producing countries meet on April 17


Oil producing countries, members and non-members of OPEC will meet on April 17 in Doha to try to stabilize production and support crude prices, sealed by a supply glut, said Wednesday Minister Qatari Energy.


The meeting will "follow" the agreement on a freeze production at its January level agreed between Saudi Arabia and the crude producers in the world-- --principaux Russia at a meeting in February Doha with Venezuela and Qatar, said in a statement the minister Mohammed al-Sada, chairman of OPEC.

Fell to the lowest since 2003 in early response to the global glut of black gold prices rebounded thanks to the Doha agreement.

Iran, a member of the Organization of Petroleum Exporting Countries (OPEC), which made its return on the world market after the lifting of international sanctions, but warned that he would not participate in gel.

But the Minister Sada said that the agreement on the production of gel had acquired membership of large crude oil producers in the world.

"To date, some 15 producers OPEC and non-OPEC, which represent nearly 73% of global oil production, support this initiative," announced in February at Doha, he said in a statement.

Iran warned Sunday that it had first of all reach a production of 4 million barrels per day (bpd) and would consider a freeze of its production once the threshold is reached.

The February agreement already "changed the sentiment in the oil market and stopped the fall in prices," the statement said the Qatari minister, adding that the collapse had led to a decline in investment in the oil industry " impacting the global production of crude. "

Oil prices rebounded Wednesday in Asia as a result of purchases cheaply in a market that had begun to decline again concerned by excess supply.

Around 2:15 GMT, the price of a barrel of "light sweet crude" (WTI) for April delivery took 58 cents to 36.92 US dollars.

Brent crude, the European benchmark crude for May delivery has appreciated by 40 cents to 39.14 US dollars, still below the threshold of 40 US dollars.

Brent was back above 40 US dollars a barrel for the first time this year last week.

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Master of Economics, University of Harvard, worked as an analyst in a few large companies and specializes in many countries. Currently owned by a large company that conducts assessment of investment attractiveness in the various countries of the world.