Kazakhstan to help stabilize Oil Market
Russia believes Kazakhstan should be involved into the stabilization of the oil market, Vice Prime Minister of the Russian Federation Igor Sechin, stated on March 15 at the summit of the Organization of Petroleum Exporting Countries (OPEC), which took place in Vienna, Kazakhstan Today reports citing Messages.ru.
"These countries possess a significant share in the market. We need to convince them to take part in the implementation of joint measures, including, balancing supply and demand on the world oil market through a reduction in deliveries," he said.
The OPEC session took place on March 15 in Vienna. The main issue for discussion was a reduction in oil production quotas on the part of OPEC member countries to stabilize the prices for oil.
Following the session, a decision was made to maintain quotas at the previous level. A Russian delegation participated as an observer, according to Kazakhstan Today.