OPEC and Russian officials plan informal talks in Istanbul
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
OPEC logo is pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
By Rania El Gamal
DUBAI (Reuters) - Energy ministers from Saudi Arabia, Iran and Iraq will be among representatives of key OPEC producers meeting Russian officials for informal talks on oil output in Istanbul next week, OPEC sources and the Russian energy minister said on Thursday.
The Organization of the Petroleum Exporting Countries last week agreed a deal to limit crude production and is looking to secure the cooperation of non-OPEC members such as Russia to help to support oil prices.
Russian Energy Minister Alexander Novak said on Thursday that he planned to meet OPEC Secretary General Mohammed Barkindo in Istanbul, RIA news agency reported, adding that the minister said he planned to discuss OPEC's output deal with ministers of other oil-producing countries.
Other energy ministers who will be present in the Turkish city as it hosts the World Energy Congress include those of the United Arab Emirates, Algeria, Venezuela and Qatar, which holds the OPEC presidency.
No decision is expected to be taken in Istanbul, the sources said, but the meeting will be a chance for the officials to discuss the next step after last week's Algiers meeting.
The agreement reached in Algiers is expected to be implemented this year and OPEC ministers will meet next in Vienna on Nov. 30 to set the group's supply policy.
(Additional reporting by Alexander Winning in Moscow; Editing by David Goodman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Crude Inventory -2.39M Barrels vs -1.37M Expected
- Baker Hughes Total U.S. Rig Count +27, Oil Rigs +21
- Wall Street again marks new highs in post-election run
Create E-mail Alert Related CategoriesCommodities, ETFs, General News, Reuters
Related EntitiesCrude Oil, OPEC
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!