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Russia Proposes IEF Section for Oil Market Dispute Among OPEC, Other States
Russia Proposes IEF Section for Oil Market Dispute Among OPEC, Other States
Sputnik International
Russian Energy Minister Alexander Novak proposed on Tuesday to form a special section at the International Energy Forum (IEF) to discuss the global oil market... 27.09.2016, Sputnik International
2016-09-27T11:48+0000
2016-09-27T11:48+0000
2022-11-15T14:15+0000
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business, newsfeed, oil in turmoil, russia, alexander novak, opec, russian energy ministry, international energy forum (ief)
business, newsfeed, oil in turmoil, russia, alexander novak, opec, russian energy ministry, international energy forum (ief)
Russia Proposes IEF Section for Oil Market Dispute Among OPEC, Other States
11:48 GMT 27.09.2016 (Updated: 14:15 GMT 15.11.2022) Russian Energy Minister Alexander Novak proposed on Tuesday to form a special section at the International Energy Forum (IEF) to discuss the global oil market situation among OPEC members and non-member states.
MOSCOW (Sputnik) — Novak said in a statement published by the ministry that the IEF's role in stabilizing the oil market could be enhanced by advancing dialogue with major oil producers and consumers.
"One of the elements of this enhancement could be a special section of OPEC, non-OPEC exporters and major non-exporting manufacturers to discuss disputes in the global market," the minister said.
27 September 2016, 09:47 GMT
Representatives of 73 IEF members have converged in Algeria for the September 26-28 conference on oil-related issues.
The informal meeting of 12 OPEC member states and possibly non-OPEC oil producers including Russia is expected to take place on the sidelines of the IEF on Wednesday, where plans to reverse the drop in global oil prices amid ongoing overproduction would be sketched out.
