OPEC decided to maintain existing quotas for oil production

The organization of oil exporting countries at a conference on Thursday decided to maintain existing quotas for oil production. This was reported in a press release from OPEC. This decision provoked a sale in the oil market, as a result of a quotation for oil, Brent stamps collapsed by 3.58 percent to the mark of $ 74.56 per barrel.

"Noting its concern about a sharp decrease in oil in recent months, the conference agreed that stable oil prices are at a level that does not restrain the growth of the global economy, but at the same time allow producers to receive decent income and invest in the satisfaction of future demand - are vital for the well -being of the world economy. Thus, in the interests of restoring market balance, the conference decided To preserve the level of production of 30 million barrels a day, as agreed in December 2011, as always, making this decision, countries confirmed their willingness to respond to events that could have a negative impact on maintaining an ordered and balanced oil market, ”the press release said.

OPEC participants decided to "see what will happen next with prices." Thus commented on the results of the conference, the Minister of the Oil Industry of Ecuador Pedro Merisalde, Bloomberg reports . “We hope that prices will be restored,” he said. At the same time, the Minister of Oil Iran Bijan Nasdar Zangan noted that he was not fully satisfied with the decision of the OPEC.

On Wednesday, representatives of Russia, Mexico and the Member States OPEC - Venezuela and Saudi Arabia - did not agree to reduce the volume of oil production . At the same time, negotiation participants decided to monitor oil prices during the year with possible quarterly consultations.

“We discussed the situation in the market, exchanged views. We need to maintain contact. We agreed to meet again in three months,” said Rafael Rafael Ramirez, Minister of Foreign Affairs of Venezuela and ex -president of the Venezuelan state concern.

According to him, all dialogue participants agreed that the current black gold prices are too low, but none of the people present at the meeting agreed to decrease official quotas for oil production.

At negotiations in Vienna, Russia was represented by the head of Rosneft Igor Sechin and Minister of Energy Alexander Novak. The current situation will not affect oil prices in the long run, Sechin said after negotiations. According to him, the drop in oil prices below $ 60 per barrel "is not so dramatic for us that this will require an immediate reduction in supplies."

At the same time, Sichin said that Rosneft reduced the volume of oil production by 25 thousand barrels per day. Mikhail Leontyev, vice-president of public relations in public relations, said that Sechin would decide on the possibility of further reducing production based on the demand and demand for the free market, as well as from the effectiveness of investment in prey.