MONTEVIDEO (Sputnik) – On June 2, OPEC members are expected to address oil production freeze at a session in the Austrian capital, having failed to agree on the issue in April in Doha, Qatar.
"I believe that the OPEC position, which would be maintaining production volumes at the levels registered in months of January and February this year, will be ratified at the next meeting in Vienna," Oswaldo Erazo said.
According to Erazo, non-OPEC members will be looking to take similar measures.
CAMDDEPE is optimistic about OPEC efforts to stabilize the global oil market, despite the April failure, the executive secretary said.
"While it is certain that the accord to freeze oil production was not reached in Doha, mainly due to rivalry between Saudi Arabia and Iran… there is an intention to open dialogue channels looking for consensus," he said.
In February, the energy ministers of Saudi Arabia, Qatar, Venezuela, and Russia discussed the current oil market situation in the Qatari capital of Doha and agreed to freeze oil production at January levels if other countries followed suit.
