Russia mysteriously saved the OPEC agreement

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Photo: Grigory Sysoev / RIA Novosti

Russia actually saved the OPEC agreement to reduce oil production. It is reported TASS citing a senior source in OPEC.

The source of Russian Agency claims that Russian energy Minister Alexander Novak has claimed responsibility to reconcile Saudi Arabia and Iran, which are traditionally at war with each other even on the summits of OPEC, normally going out of politics. According to a source, Novak personally talked with representatives of Riyadh and Tehran, after which the business moved from a dead point.

“The deadlock of the talks failed to bring Novak, because he held personal meetings”, — says the Agency, stressing that the source could not explain how it managed to make the Russian Minister. The details of the negotiations are unknown.

At the same time Russia itself has long been the main obstacle to the agreement Moscow has refused to cut production on more than 150 thousand barrels a day. Ultimately, however, made concessions and agreed to reduce oil production by 200 thousand barrels. After that, the main obstacle was Iran that refused to go even on the symbolic reduction due to the imposition of sanctions by the U.S. against the Islamic Republic.

After three days of difficult negotiations, OPEC countries together with partners outside of the cartel agreed to cut oil production by 1.2 million barrels of oil a day. The decision was a real breakthrough because two days from Vienna, which hosted the summit, there were only negative news about the deal in jeopardy. In the end, to 800 thousand barrels in total, to cut production by OPEC, another 400 thousand partner outside the cartel.

Video, photo All from Russia.

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