.jpg "Russia, Saudi Arabia, Venezuela, Qatar ready to freeze oil production")
The meeting was attended by ministers of Saudi Arabia,, Nigeria, Venezuela and Russia — Ali Naim, Emmanuel Ibe Kachikvu, Eulogio del Pino, and Alexander Novak, respectively.
"Following a meeting, four countries — Russia, Saudi Arabia, Qatar and Venezuela — are ready to freeze oil production at January levels if other producers join this initiative," Novak said in a statement published by the Energy Ministry.
Since the collapse in oil prices in the first half of January, officials from OPEC member states and non-OPEC countries have been considering holding a meeting to address the declining oil prices, which have caused significant financial problems for some states.
Meanwhile, oil prices slowed on Tuesday after reports over an alleged agreement between Russia and a number of OPEC countries to freeze their levels of extractions.
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