During the recent OPEC Summit, held in Vienna on December 6 and 7, a majority agreement was reached to reduce the production quota for the beginning of 2019.
In this regard, the Minister of Energy of Kazakhstan, Kanat Bozumbayev, said on Wednesday that members of the organization and other oil producers should stabilize prices from January to March next year.
The parties are expected to make a joint statement in January to support the market, Bozumbayev said. In any case, the agency led by Saudi Arabia has not yet ruled on the request of Kazakhstan.
In the words of Bozumbayev: “All these countries must stabilize the situation with energy measures in January-February-March. Prices should stabilize and enter a more or less positive range“.
The minister has not disclosed details about the declaration expected to happen in a month, although he said that key OPEC members such as Saudi Arabia, Russia, the United Arab Emirates, as well as the organization’s general secretary have participated in the discussion. Mohammed Barkindo.
M.Pino
Source: Reuters
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