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“Many countries” outside OPEC are willing to join the negotiations on a crude oil production reduction initiated by the cartel last month. That’s what Saudi Arabia’s oil minister Khalid al-Falih said today at the Oil & Money conference in London.
Without naming any names, Al-Falih said that behind-the-scenes talks are being held with non-OPEC producers who have declared their readiness to not just freeze, but to cut their production to match the organization’s attempt at rebalancing the markets.
The biggest non-OPEC oil producers in the world besides Russia and the U.S. include Canada, Norway, Mexico, China, India, Brazil, Azerbaijan, and Kazakhstan.