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OPEC considers extraordinary meeting in Algeria to discuss oil prices

by ChemOrbis Editorial Team -
  • 19/09/2016 (14:22)
According to media reports, OPEC members may have an extraordinary meeting for discussions on oil prices if they can reach a consensus at the Algeria meeting, OPEC Secretary-General Mohammed Barkindo said. The meeting will take place on September 26-28 with the participation of Russia, Iran and other major oil producers.

Barkindo also stated that he is optimistic about the Algeria meeting and added that OPEC members are more focused on market stability rather than having fixed oil prices.

Algeria’s Energy Minister Noureddine Bouterfa has said that OPEC and non-OPEC member countries agree on the need to stabilize the market.

Several OPEC members have called for an output freeze to deal with the fall in prices that occurred over the last two years due to a flood in oil supplies.
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