10 December meeting of non-OPEC producers can be postponed

Baku. 9 November. REPORT.AZ/ Meeting of non-OPEC oil producers appointed to December 10 can be postponed due to technical reasons. Report informs, referring to Forexpf.ru, rumor spread in the market yesterday increased volatility of oil prices. But later Russian Ministry of Energy confirmed the meeting will be held on December 10 as scheduled.

According to the Bloomberg, the reason of rumors is Russia’s mistrust over OPEC output reduction programme. 

Russia prepares to ask for clear expression of steps by OPEC to cut output. Such as, OPEC added 0.5 mln. barrels/day in comparison with October and to raise an output to 34.16 mln. barrels/day. Russia says it will cut 300 thousand barrels of daily output only if OPEC will down to earlier agreed 32.5 mln. barrels/day. Intense debates are expected at tomorrow meeting.

Experts of Report News Agency expects oil prices slump to $45/bbl in case of serous disagreement in tomorrow meeting.