31.07.2015 - OPEC, Russia: 'Oil market to stabilize'
OPEC and Russia expressed confidence the global oil market would become more balanced and stable in 2016 after recent sharp drops. At a meeting between OPEC Secretary-General Abdullah El-Badri and Russian Energy Minister Alexander Novak in Moscow on Thursday, both sides made clear they didn't expect oil prices to experience any more sharp falls. While Badri and Novak insisted talks on possible cuts in oil output were not on the agenda, the OPEC representative reiterated the stance communicated at the cartel's meeting earlier this year. "We met in December, and we met in June; and we decided to keep out production at 30 million barrels a day. And we're not ready to reduce our production," Badri said after the talks in Moscow...............................................Full Article: Source
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