From the Field
Qatar invites OPEC members for meeting
DOHA, March 22, 2016 – Qatar, host of the April 17 Doha meeting of OPEC and non-OPEC producers, on Tuesday formally invited the 12 other member countries, a statement by the Ministry of Energy and Industry read.
Announced on March 16, the gathering of oil-producing countries is aimed at reaching an agreement on the proposal made during the preceding month of freezing oil output at January 2016 levels. Last week, without mentioning names, Qatari Minister of Energy and Industry and current president of OPEC Mohammed bin Saleh Al Sada said that 15 countries would back the proposal to cap production.
Iran has thus far been the most vocal in its opposition to freezing output. As a response, a senior OPEC delegate told the Financial Times on Tuesday that an agreement could be reached without including the resurgent oil producer. “There is agreement from many countries to go along with a freeze, why make it contingent on Iran,” the daily quoted the delegate as saying.
Speaking at a press conference on Monday, OPEC secretary general Abdalla El Badri said that OPEC and non-OPEC producers would leave the door ajar. “Maybe in the future they will join the group. They [Iran] have some conditions about their production.”