OPEC plans to hold talks with U.S. oil producers

Baku. 24 July. REPORT.AZ/ OPEC member-countries are planning to meet with the U.S. for discussing the situation on the oil market in the fourth quarter of 2017. Report informs citing Reuters, OPEC Secretary General Mohammed Barcindo said.

"For the first time in the history, OPEC has launched a dialogue with U.S. oil producers; we have been the first to reach out to them. They have received us very warmly and called to continue this dialogue. We are planning to continue this dialogue in the fourth quarter," he said.

Barcindo hopes that American oil producers will join the OPEC+ initiative on reducing oil production for stabilizing the market. The growth of oil production in the United States undermines the efforts of the OPEC oil pact aimed at the reduction of commercial oil reserves in the world.