Four OPEC delegates told Bloomberg that they have no meeting planned with Russia. The Wall Street Journal also reports, with reference to one of the cartel members, that there is no decision to convene a session.
Russian Energy Minister Alexander Novak said yesterday that Russia is ready to take part in the Organization of the Petroleum Exporting Countries' (OPEC's) meeting together with other non-cartel countries in February.
According to him, Saudi Arabia proposed a 5% cut in oil production. "That’s the subject of the discussion," the minister said. However, Bloomberg reports with reference to the OPEC delegate that Saudi Arabia had no proposal to trim production by 5%.
Previously, Saudi Arabia expressed its readiness to support a reduction in oil production if other members of the cartel will make a similar commitment, Interfax reports.
