15 major oil producing countries to meet in Doha

AMN /

At least 15 major oil producing countries, both from the Organization of the Petroleum Exporting Countries (OPEC) and non-cartel producers met  in Doha, Qatar today.

They will discuss freezing production at January levels to offset the glut in global oil and steady oil prices that have declined to a third of their peak level between 2014 and last year.

In February, the Energy Ministers of Saudi Arabia, Qatar, Venezuela, and Russia agreed to strike a deal on freezing oil production at levels reached in January this year if other countries followed suit.

A number of oil producers, including OPEC members Ecuador, Algeria, Nigeria, Kuwait and the United Arab Emirates and non-OPEC member Oman, expressed interest in joining the potential deal early on.

The Saudi Arabian position on the deal remains unclear. Yesterday, the country’s Defense Minister again backtracked and stated that Saudi Arabia would freeze output on condition that other major oil producers, including Iran, follow suit.