A new oil producers’ alliance will be set up

Brent crude oil rapidly increases

Baku. 10 October. REPORT.AZ/ President of Venezuela Nicholas Maduro expects that at the oil-exporting countries’ meeting in Istanbul a new alliance of the oil producers will be established. 

Report informs referring to the TASS, N. Maduro made this statement at the World Energy Congress in Istanbul today. He added that the new alliance will cover more countries than OPEC. 

"We hope that we will succeed in founding another alliance of oil-producing countries," he said speaking about the goals of the oil exporters’ meeting scheduled for October 12 in Istanbul.

The latest news lead to jump in Brent crude price to 53 USD/barrel. 

Notably, Russia's leader Vladimir Putin has today stated that the country may reduce oil output. 

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