OPEC: collective consensus among oil producers to support market

[ltr]OPEC: collective consensus among oil producers to support market[/ltr]

 Since 09/11/2016 10:00 (Baghdad time)
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[ltr]Follow-up scales News[/ltr]
[ltr]The news agency quoted Algerian Noureddine Bouterfa, Algerian Energy Minister as saying that there is a consensus of opinion within the Organization of Petroleum Exporting Countries (OPEC) and outside about the need to stabilize the oil market to support prices.[/ltr]
[ltr]Bouterfa was speaking after a meeting with Saudi counterpart Khaled al-Faleh, and OPEC Secretary-General Mohammed Barkindo in Paris in the late first on Friday.[/ltr]
[ltr]Bouterfa traveled to Qatar, Iran and Russia last week to press for the stability of the oil price to between $ 50 and $ 60, and said he was confident of a result of the OPEC meeting to be held in Algeria from 26 until September 28 / September.[/ltr]
[ltr]Bouterfa said that Algeria would submit a proposal to stabilize prices during the meeting, adding, "suggests our consultations with our partners to have a consensus on the need to stabilize the market, and this is a positive point."[/ltr]
[ltr]He added that Algeria is in contact with members of OPEC and the Secretary General of the Organization countries, and that this part of the work to reach a consensus, noting that he feels optimistic.[/ltr]
[ltr]Bouterfa said that there is support from Saudi Arabia, Qatar, Iran, Venezuela, Kuwait and non-members of OPEC, especially Russia.[/ltr]
[ltr]Furthermore, the Secretary General of OPEC, Mohammad Barkindo, said the organization does not seek a specific price range for oil during a meeting later this month in Algeria, but they want to stabilize the market.[/ltr]
[ltr]The agency said he made his comments after a meeting late on Friday with the ministers of Algeria's energy and Saudi Arabia in Paris.[/ltr]
[ltr]The agency quoted Barkindo as saying that "the oil market should be stabilized through a less volatile prices, so what we are trying to achieve in the context of our consultations aimed to make the member countries are working in one direction, namely, the achievement of lasting stability to the market."[/ltr]
[ltr]Algeria is hosting the International Energy Forum, along with the OPEC meeting later this month, he said he had discussed Bouterfa meetings with al-Faleh and Barkindo in Paris.[/ltr]
[ltr]And Algeria's oil-producing countries that have been affected greatly reduce the price of crude in half during the past two years.[/ltr]
[ltr]And it began moves towards a global agreement to stabilize oil production after five months of talks were intended to make it happen when Saudi Arabia insisted on Iran's accession to the agreement fails.[/ltr]
[ltr]Tehran says it supports any action to stabilize the market, but did not go curb to note that it will join a global agreement before it reaches its production to four million barrels per day, a level that says she was produced before the imposition of Western sanctions in 2012.anthy 29 / D 24[/ltr]


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