Algeria says confident OPEC members will stick to Algiers output deal

November 6, 2016 9:35 AM EST

The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016. REUTERS/Leonhard Foeger


Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

ALGIERS (Reuters) - Algeria's Energy Minister Nouredine Bouterfa said on Sunday he was confident OPEC members would stick to a deal made in Algiers in September to cut output, saying the group's technical committee was working on applying the deal.

"There will be no return on the Algiers agreement. Now, we are in application of this agreement. The high-level technical committee is working on it. The Algiers agreement has not been called into question," Bouterfa said, according to state news agency APS.

OPEC officials met in Vienna last month to work out the details of the Algiers plan to reduce oil production, but failed to reach agreement. The High Level Committee of experts will meet again in Vienna on Nov. 25 ahead of the next meeting of OPEC ministers on Nov. 30.

(Reporting by Hamid Ould Ahmed; writing by Patrick Markey; editing by David Clarke)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Related Entities

OPEC

Add Your Comment