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![Saudi Arabia is insisting that non-OPEC countries also contribute to production cut[Xinhua]](http://thebricspost.com/wp-content/uploads/2013/03/oil-russia3.jpg)
Saudi Arabia is insisting that non-OPEC countries also contribute to production cut[Xinhua]
A Wall Street Journal report quoting OPEC sources said the meeting will be attended by ministers of Saudi Arabia, Nigeria, Venezuela and Russia — Ali Naim, Emmanuel Ibe Kachikwu, Eulogio del Pino, and Alexander Novak. Russia’s Novak has said he could consider output cuts if other producers joined in.
The Organization of Petroleum Exporting Countries and non-members like Russia do not see eye-to-eye on many issues including cutting back production.
Ali al-Naimi, the most senior oil official of Saudi Arabia, will hold talks with Russia’s Alexander Novak in the Qatari capital.
Not many believe there will be an agreement in Doha on curtailing output although Nigerian Oil Minister Ibe Kachikwu has said the mistrust within the OPEC is giving way to a growing consensus.
Oil has dropped over the past year due to booming US supplies and OPEC’s decision, led by the group’s biggest producer Saudi Arabia, to ramp up exports and drive higher-cost producers out of the market.
“There’s increased conversation going on. I think when we met in December … they (OPEC members) were hardly talking to one another. Everyone was protecting their own positional logic,” Kachiwku told Reuters.
“Now I think you have cross-logic … they are looking at what are the deficiencies, what is the optimum,” he added.
Host of Tuesday’s talks, Qatar, is facing increased financial strain owing to oil’s deepening slide this year to below $30 a barrel.
TBP and Agencies
