Qatar to host meeting of major oil producers to discuss production freeze

Doha (IINA) – Qatar has sent formal invitations to all member states of the Organization of the Petroleum Exporting Countries (OPEC) as well as to non-OPEC producers for a meeting to be held here on April 17 on the current oil situation, Qatar News Agency (QNA) reported.
The invitation emphasized on the urgent need to restore balance to the oil market and recovery to the global economy, said a statement issued Tuesday by the Ministry of Energy and Industry.
The meeting is aimed at reaching an agreement among oil-producing countries to freeze production at the 2016 January's levels in order to reduce the surplus in global inventories for the interests of all concerned parties, the statement said.
Qatar's Minister of Energy and Industry Dr Mohammed bin Saleh Al Sada stated last week that a meeting would be held in Doha on April 17 with the participation of a number of OPEC members and major oil producers outside OPEC from outside the cartel.
The minister said that the number of countries that have expressed support for the initiative to freeze oil production was about 15 inside and outside OPEC, which produced nearly 73 percent of the global production.
AB/IINA

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