OPEC, non-OPEC producers plan informal meet in Istanbul to discuss Algiers deal: Algeria

October 5, 2016 3:17 PM EDT

A person carrying an umbrella walks by the Ogranization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria October 4, 2016. REUTERS/Heinz-Peter Bader


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ALGIERS (Reuters) - OPEC and non-OPEC oil producers plan an informal meeting in Istanbul Oct. 8-13 to discuss how to implement a production deal OPEC members reached in Algiers last month, Algerian Energy Minister Nouredine Bouterfa has told local Ennahar TV.

In an interview scheduled be broadcast on Thursday, Bouterfa said the Algiers deal to cut output would be in force for up to a year.

Oil prices rose about 7 percent in September, ending up a second straight month, after OPEC unveiled plans in Algiers to reduce output to between 32.5 million and 33.0 million barrels per day. Details are still being worked out among producers.

(Reporting by Lamine Chikhi; writing by Patrick Markey)



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