Meeting of oil-producing countries begun

The meeting of the oil-producing countries energy ministers is held in Vienna. Some representatives from Russia, Oman, Sudan, South Sudan, Saudi Arabia, Iran, Iraq, Qatar, Nigeria, Algeria, Ecuador, Libya, Gabon, Venezuela and some others- more than 20 countries having a great part of oil in the whole world are participating in this conference.

The previous agreements of reducing oil production are unlikely to be canceled. Moreover, the member-countries of the OPEC established a committee to achieve these goals. The current president of OPEC Mohammed Saleh Abdulla Al Sada reported this information. He also added that the creation of a special institute on cooperation in the oil market was planned.

However, on the background of these events oil prices have greatly increased.