Russia and a number of OPEC countries agreed to discuss oil extraction reduction

​6 countries-OPEC members and another 2 independent exporters are ready to participate in the extraordinary meeting if it is appointed.

A common decision on the reduction of oil extraction might be made at the meeting so as to increase oil prices.

The Ministry of Oil of Venezuela reported of the readiness o 8 countries to participate in the meeting; Russia, Oman, Iraq, Iran, Algeria, Nigeria, Ecuador and Venezuela.

To agree on the restrictions for oil extraction is a normal practice for OPEC. This is its main goal. However, recently quotas for extraction stayed at the same level despite of the oil price fall.

Saudi Arabia opposes the reduction of quotas. This country is considered to have deliberately reduced oil prices so as to do harm to the US oil sector that faces a rise on the background of the shale revolution.