The Russian Energy Minister, Alexander Novak, has reduced expectations of an agreement on the freezing or the reshaping of oil production in the coming OPEC meeting in Algeria. "The question of the block in production is a separate topic, which needs a separate meeting," Novak explained to the press, also because the current situation is certainly not that of February or April. I believe - Novak continued - that during the meeting, provided that the meeting be held, we will be able to discuss the overall situation on the oil market."
The OPEC meeting, scheduled this coming September 26th to 28th in Algeria, in fact follows on from those held in the spring and prior to the summer, in which no agreement was reached on a possible production freeze that could stabilize crude oil prices. In this scenario, lastly, during the encounter, Novak could also meet with the representatives of Saudi Arabia and Iran to attempt a mediation.