Russia, Azerbaijan, Syria and Oman, none of them members of OPEC, will attend a key meeting of the oil cartel in Algeria on Wednesday, Algerian Energy Minister Chakib Khelil announced Saturday.
Khelil, the current president of OPEC, said Russia would be represented by Deputy Prime Minister Igor Sechin and Energy Minister Sergei Shmatko at the meeting in Oran, where OPEC is expected to decide on a major output cut.
The Algerian minister said the 13-member Organization of Petroleum Exporting Countries had reached a consensus "for a sharp reduction of production," according to the APS news agency.
Russian President Dmitry Medvedev said Thursday Russia was ready to join forces with OPEC to stem the plunge in crude prices and could even become part of the oil cartel if membership were in Moscow's interests.
His comments were a clear signal Russia is prepared to agree to OPEC demands for coordinated output cuts to bolster crude prices and also examine its long term political strategy in the oil market.