OPEC invites Russia, non-OPEC members to October meeting

Sunday 09/10/2016
To everybody’s interest -- not only producers

ISTANBUL -OPEC has issued an invitation to Russia and other key non-members of the oil cartel to attend a meeting later this month aimed at rebalancing crude prices after historic lows, the Qatari energy minister said on Wednesday.
"We agreed to have a technical meeting of OPEC... on 28-29 of this month (October). An invitation is going to be sent to some key non-OPEC countries," Qatar Energy Minister Mohammed Saleh al-Sada said after a meeting in Istanbul of several OPEC members with Russian Energy Minister Alexander Novak.
"This meeting is meant to give a better understanding of the best way of how to move towards the rebalancing of the market to the interest of all -- not only producers and exporters but also the world economy," added the Qatari minister.
Other than Russia, he did not elaborate on what other non-OPEC countries were being invited to the meeting.
Novak said that the "informal" meeting on the sidelines of the World Energy Congress in Istanbul had discussed not only current market conditions but also "mechanisms" of cooperation between OPEC and non-OPEC countries.
He confirmed that Russia had been invited to the October meeting in Vienna which would try and "work out a roadmap for the cooperation of our countries" in the rebalancing of prices. Novak praised the discussions in Istanbul as "constructive".

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