ECONOMY
UAE said the refusal of OPEC to cut production even at the price of $ 40 per barrel
Baku, December 15 AZERTAC
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Speaking at a conference in Dubai, Al Mazrui commented on the proposal of Venezuela to convene an extraordinary OPEC meeting to review the oil production quotas. According to him, the cartel even if prices fall to $ 40 per barrel will wait at least three months before you discuss the possibility of an emergency meeting.
& laquo; We will not change our position in the event of a further fall in prices & raquo ;, - quoted by Al Mazrui agency Bloomberg. & Laquo; We are not going to influence prices. The market should regulate itself & raquo: - he added.
On a possible extraordinary meeting of the cartel does not know anything and OPEC Secretary General Abdullah El Badri. Answering a question, he said that a formal proposal from Venezuela has been reported.
Earlier, OPEC member countries have stated that the next scheduled meeting of the cartel to be held in June next year.
Oil fell sharply after the November OPEC’s decision to maintain current levels of production. After long discussions, the members of the cartel came to the conclusion that the oil market will stabilize without outside influence.
cost of a barrel of North Sea Brent, which is calculated based on the price of Russian Urals, December 12 dropped to the level of 61 dollar 65 cents, which is the lowest level in the last 5 years.