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OPEC Members to Meet in May After Failing to Agree on Oil Price Freeze in Doha

Russian Energy Minister, Alexander Novak has said there is still no agreed meeting date for OPEC in May.

Iraq's Deputy Minister of Oil Fayyad Al-Nima, who temporarily replaced Adel Abdul Mahdi as Minister of Oil after he decided not to participate in the April cabinet meetings,  has announced OPEC and various other crude production companies may schedule to meet next month in order to agree a oil price freeze.  Al-Nima further added, “Iraq will take part in this meeting.Iraq’s view is to have a freeze in output for a short period to help protect the interests of both producers and consumers equally by easing the surplus from the market and improving prices.”

This is due to the failure to reach an agreement on April 17 in Doha. Russian Energy Minister, Alexander Novak has said there is still no agreed meeting date for OPEC in May. 

 

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