19 Feb 2016 11:38

Easy to monitor output, oil market is transparent - Teksler

KRASNOYARSK. Feb 19 (Interfax) - The world oil market is transparent and it would be easy to detect whether anybody is not honoring agreements to freeze output, First Deputy Russian Energy Minister Alexei Teksler told reporters.

"It would not be difficult to monitor how oil production agreements are being fulfilled. The market is transparent, it would be easy to tell if anybody is cheating, and these things also need to be taken into consideration," he said, when asked about the opportunities for monitoring the situation if producing nations commit to freezing output.

A number of major oil producing nations, among them Russia and Saudi Arabia, reached an understanding during a meeting in Doha this week to freeze output at January's level.