Venezuela’s Oil Ministry: Russia supports the efforts of Saudi Arabia and stabilize oil prices. He will present “standby” in the Algerian proposal to help stabilize oil prices and output prices balance.

Russian Energy Minister Novak: 50 Zhi 60 US dollars / barrel oil prices on oil production and consumers both very fair. Crude oil market rebalancing accelerate everyone’s benefit.

JP Morgan Chase: The end of the third quarter, WTI oil prices are expected to fall to $ 38 / barrel, Brent oil prices are expected to fall to $ 40 / bbl.
The third quarter average price of WTI oil prices are expected to fall to $ 44 / barrel, the average price of Brent oil prices are expected to fall to $ 46 / bbl.
The probability that oil-producing countries to coordinate actions from 35% down to 10%.

Russian President Vladimir Putin: the current oil price is unfair, we need to slightly higher. On the whole satisfied with the current level of oil prices.

Russian Energy Minister Novak: Russia, Saudi Arabia is considering freezing production for three months or longer. (RIA Novosti). Russia’s low oil prices of oil producers and consumers understand that capital is not a good thing. You need to select a specific monthly production capacity as frozen reference, Russia is ready to set any level in the second half of the month. Other countries support Russia’s proposal is very important.
Iran has the right to pre-sanctions levels increase, once the recovery can be added to frozen production agreements.

Citigroup: oil prices are expected to rise until the end of 2017 to US $ 65 / bbl level.

OPEC Secretary General: welcome, support agreement between Saudi Arabia and Russia.
We hope that other oil-producing countries to support the agreement between the two countries in order to stabilize the market.

Algerian Oil Minister: OPEC appeal and conduct a more large-scale coordination.
Saudi Arabia and Russia’s agreement demonstrates various oil-producing countries must reach an agreement.

Qatar oil minister: OPEC and the oil minister of Algeria and on the market are discussed.
Qatar supports the agreement between Russia and Saudi Arabia.

According to Interfax, the Russian request for help Cuba in oil supply. Russia is seeking assistance to Cuba because Cuba purchased crude oil from Venezuela encountered obstacles.

Iraqi Oil Marketing Organization: Iraq’s oil exports in August 323 million barrels / day of crude oil production 463.8 million barrels / day.

United Arab Emirates Oil Minister: Saudi Arabia welcomed with Russia in the field of crude oil to cooperate.
Crude talks between the two countries is a positive step.

Morgan Stanley Adam Longson: If frozen produce short-term agreement reached, oil prices will rise, but the agreement “will not solve the problem of excessive short-term supply.” Such is the case of agreement, “unsustainable”, Iran’s, Iraq, Kuwait plans to increase production and quota compliance is not always good. Next 3–5 years Iran could increase yield 70-100 million barrels / day.

Saudi Oil Minister Al-Falih: There is no need to freeze production.
Oil prices are improving, while also freezing capacity is not the only solution.
The agreement with Russia is very important. Agreement aims to make the OPEC member countries and other oil-producing countries to join.
To achieve coordination with other members of OPEC in Algeria during the talks remain optimistic. (Al Arabiya)

Source:Wallstreetcn