A. Novak to discuss world prices for oil with Ministers of Venezuela and Ecuador

The Minister of Energy of Russia, A. Novak, plans to hold a working meeting with the Ministers of International Affairs and Ministers of Oil of Venezuela and Ecuador in Moscow. This is the information of the official representative of the Ministry of Energy of Russia.The delegations comprise the Ambassadors of Venezuela and Ecuador in Russia. One of the main issues of the agenda will be the discussion of the situation with the world prices for oil.

In the autumn 2014 Mr. Novak and the head of Rosneft, I. Sechin, discussed this issue with the representatives of Saudi Arabia, Mexico and Venezuela. The meeting was held in Vienna before the meeting of OPEC. It was decided not to reduce the quotas for oil extraction. This decision caused another fall of world prices for oil.