OPEC may decide on extra meeting immediately after Algiers: Algeria
- S&P, Dow rise on health stocks; Nasdaq weighed by Comcast
- Unusual 11 Mid-Day Movers 10/27: (PCMI) (OCN) (TTMI) Higher; (CYH) (RWLK) (AMFW) Lower
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- CenturyLink (CTL) in Advanced Talks to Merge with Level 3 (LVLT) - DJ
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
ALGIERS (Reuters) - OPEC members could decide to hold an extraordinary meeting to discuss oil prices immediately after an informal gathering in Algiers next week, Algerian Energy Minister Noureddine Bouterfa said on Tuesday.
Bouterfa told local radio he was optimistic that participants would reach a consensus on how to stabilize the oil markets at the Algiers meeting of OPEC and non-OPEC producers on Sept. 26-28.
"Oil ministers may decide to hold an extraordinary meeting immediately," he said.
Algeria has been pushing for oil to be stabilized at around $60 a barrel. Bouterfa has traveled to Qatar, Iran and Russia to lobby for action to steady the market.
International benchmark Brent crude oil futures were trading at about $45 per barrel on Tuesday.
On a visit to Algiers over the weekend, Mohammed Barkindo, secretary-general of the Organization of the Petroleum Exporting Countries, said an extraordinary meeting could happen if the Algeria conference produced a consensus. He has said the Algiers meeting was for consultations and not decision-making.
(Reporting by Hamid Ould Ahmed; Writing by Patrick Markey; Editing by Dale Hudson)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Crude Inventory -553K Barrels vs +1.2M Expected
- Oil rises on OPEC cut comments, draw of U.S. crude at Cushing
- UPDATE: API Crude Inventory +4.8M Barrels
Create E-mail Alert Related CategoriesCommodities, 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!