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Algeria: OPEC decision is needed to stabilize oil prices

by ChemOrbis Editorial Team -
  • 26/09/2016 (15:56)
According to media reports, Algeria’s Minister of Energy Noureddine Boutarfa commented that OPEC member countries must take action to stabilize the market ahead of an informal meeting of OPEC members in Algeria. He stated that, if OPEC member countries cannot reach a deal on a production freeze, then oil prices could see further decreases.

Boutarfa underlined that OPEC member countries need to find a middle ground since they all agree on the need to stabilize the market and suggested a production freeze as the best solution.

Boutarfa stated that the Algeria meeting will not fail and was quoted as saying, “Either we reach an agreement, which would be good, or we reach an understanding on the elements of an agreement, and that would also be good."
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