ECONOMY


OPEC Invites 12 Non-Cartel States to Attend Meeting in Vienna

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Baku, October 26, AZERTAC

The Organization of the Petroleum Exporting Countries (OPEC) sent invitation for participation in the technical meeting, which will be held on October 29 in Vienna, to 12 non-cartel states, Venezuela's Oil and Mining Affairs Minister Eulogio del Pino said Tuesday, according to Sputnik.

According to Pino, the meeting of the OPEC states will be held on October 28, and the representatives of the non-cartel states will join them on October 29.

"We invited Russia, Azerbaijan, Kazakhstan, Oman, Egypt, Bahrain, Colombia, Mexico, Trinidad and Tobago, Bolivia, Norway and Canada," Pino told journalists.

Pino added that solely Russia and Kazakhstan had confirmed their participation to date, answering the question on the aforementioned states’ confirmation of attendance. Earlier, Venezuelan President Nicolas Madura has said that his minister's visit to Moscow aimed to work out the details of the oil production deal between OPEC and non-OPEC countries. On September 28, OPEC member states agreed on cutting its oil production to 32.5-33 million barrels per day for the whole cartel, however, no exact limits for each country have been placed. The OPEC countries are set to finalize the agreement on oil output freeze at the OPEC summit in Vienna on November 30.

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