Russia says to discuss oil markets, Iran with OPEC on July 30

  • OPEC secretary-general to visit Moscow
  • Russia, Saudi Arabia had agreed that oil output cut unnecessary
  • Russian firms do not expect oil production decline in 2016 (Adds detail, quotes)

MOSCOW, July 17 (Reuters) - Russia and OPEC Secretary-General Abdullah al-Badri will discuss oil markets and the Iran situation in Moscow on July 30 amid sliding oil prices, Russian Energy Minister Alexander Novak said.

The prospect of an influx of Iranian crude onto the already-overhung market has dampened oil prices, which have halved from their level in June last year of $115 per barrel.

"We will discuss the situation on the oil and gas market on the whole, taking into account the lifting of sanctions on Iran," Novak told reporters about the forthcoming meeting with Badri. (By Vladimir Soldatkin and Anastasia Lyrchikova, Reuters)


Read our take on the Russian/Saudi/Iranian relationship.