News // Middle East and OPEC
OPEC Wants Extension or Output Cut
03 December 2008 , 12:291379
"What we really want is for these countries to become members of OPEC," Khelil said on the sidelines of a conference of the OPEC in Algiers, according to APS news agency.
"I don't see why Russia can't be a full-fledged member of the organization. It's the best way to express solidarity," he said.
If the three countries refuse to join OPEC, they should reduce oil production, Khelil said.
"We don't need an agreement to stand by countries that share the same goal. If they have problems (joining OPEC), they should just apply their intended reductions," he said.
Russia, a top world oil producer, isn't a member of OPEC, but has held regular consultations with the organization.
Russian Deputy Prime Minister Igor Sechin last week said Moscow had prepared a draft memorandum on cooperation with the 13-member cartel.
OPEC secretary general Abdalla Salem El-Badri said Monday the cartel may decide on a "major" output cut when it meets in Oran, Algeria, on Dec. 17.
OPEC has already slashed output twice this year by a total of 2 million barrels a day in response to plunging prices but fears remain that a global recession could ravage demand for energy.
Oil prices have fallen under $50 a barrel.
00:01 23.10.2017Can Trump drive a wedge between Saudi-Russian alliance?
18:00 20.10.2017Azerbaijan would support further OPEC balancing actions
18:00 19.10.2017Russia and Saudis team up to boost fracking tech
12:08 19.10.2017CEO: Novatek won't waste time lobbying for end to Russia natural gas export monopoly
18:00 18.10.2017Novatek adds cheaper capacity to Yamal LNG
14:10 18.10.2017China to take 5% of Rosneft’s output in new deal