A future agreement on the freezing of oil production "is still possible" and "we expect it to be reached". This was stated by Russia's energy minister, Alexander Novak, speaking on state television the day after the failure of the Doha summit between oil-producing countries.
Yesterday morning, the agreement seemed within reach, then Saudi Arabia stiffened its position: no discounts in Tehran which reiterated that it did not want to freeze production before reaching export levels prior to the embargo.
"We regret that some OPEC countries have changed their minds," Novak said, acknowledging that "the lack of agreement on production is having negative effects on prices."
The minister, however, assured that there will be further consultations in April and May.
