Six Oil Producers Agree on Emergency Meeting, Iran's Shana Says

(Bloomberg) -- Six oil-producing countries have agreed on an emergency meeting between OPEC and non-OPEC member states, the Iranian oil ministry’s news service Shana reported on its website Wednesday, citing Venezuela’s oil minister Eulogio Del Pino.

“Iran has agreed to take part in the meeting and Russia has already announced its agreement,” Shana quoted Del Pino as saying. “Iran is the first OPEC country which I visited to hold talks. Earlier, I visited Russia, which is not an OPEC member.”

Del Pino, who was in Tehran Wednesday on a tour of OPEC and non-OPEC countries, stopped in Russia earlier this week and held talks with officials including Igor Sechin, chief executive officer of the country’s largest oil producer Rosneft OJSC. Del Pino and Sechin talked about possible coordination efforts to stabilize global oil markets, Venezuela’s oil ministry said Tuesday in an e-mailed statement. 

Russian Energy Minister Alexander Novak said Monday that he would be willing to attend a meeting with the Organization of Petroleum Exporting Countries and non-OPEC producers, should such a gathering occur.

Venezuela’s President Nicolas Maduro, seeking to mitigate the impact the decline in oil prices is having on the country’s economy, sent Del Pino on a tour of oil producers. After Russia and Iran, he is planning to visit Qatar, Iran and Saudi Arabia, the world’s largest oil exporter.

To contact the reporter on this story: Jose Orozco in Caracas at To contact the editors responsible for this story: Margot Habiby at David Marino, Charlotte Porter

Copyright 2017 Bloomberg News.


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