Economy
Sunday, 17 April 2016
some pressure is now really taken off the oil market? Major producing countries to freeze their promotion to the January level until October. However, Iran does not want to join.
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At the meeting, important oil producers in the Qatari capital Doha but it could lead to a freezing of the oil production at the level of January today. The cap will initially until October 1, as is clear from a draft.
The representatives of the oil-producing countries want to therefore meet again in October in Russia in order to review progress in the fight against the low price of oil. This has slumped because of oversupply in mid, 2014. Insiders expressed optimism that it will come to an agreement.
Saudi Arabia, Qatar, Venezuela and Russia had tentatively agreed in February it to freeze the oil production on the January level. However, they do this depends on that other exporters join the.
More aboutBefore the meeting, the first signs were not on agreement. According to insiders, Iran will not participate in the discussions. The country has so far stressed that it would welcome a ceiling on oil production itself but not participate in it.
After most sanctions because of years of nuclear conflict against the Islamic Republic have just been lifted, the country wants first market share expand again. According to analysts, this is a stabilization of the market counter.
Source: n-tv.de
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