Venezuela says OPEC, non-OPEC oil stabilizing deal close
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Venezuela's President Nicolas Maduro (C) attends the 17th Non-Aligned Summit in Porlamar, Venezuela September 18, 2016. Miraflores Palace/Handout via REUTERS
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
By Deisy Buitrago
MARGARITA ISLAND, Venezuela (Reuters) - Venezuelan President Nicolas Maduro said on Sunday that OPEC and non-OPEC countries were close to reaching a deal to stabilize oil markets and that he aimed for a deal to be announced this month.
OPEC members may call an extraordinary meeting to discuss oil prices if they reach consensus at an informal gathering in Algiers this month, OPEC Secretary-General Mohammed Barkindo said during a visit to Algeria, the country's state news agency, APS, reported on Sunday.
Maduro, an oil price hawk who was speaking at the end of a summit of the Non-Aligned Movement on Margarita Island, Venezuela, where diplomats also met to discuss the oil market, said a deal was imminent.
"We had a long bilateral meeting with Rouhani. We're close to a deal between OPEC producer countries and non-OPEC," Maduro told a news conference.
Iranian President Hassan Rouhani, who attended the summit, said Tehran supported any move to stabilize the global oil market and lift prices, according to the Iranian Oil Ministry news agency, SHANA.
Venezuela has been seeking an oil deal for years as its state-led economy reels under low oil prices, and has often said it was close to reaching an agreement.
OPEC members will meet on the sidelines of the International Energy Forum, which groups producers and consumers, in Algeria from Sept. 26 to 28. Non-OPEC producer Russia is also attending the forum.
The Organization of the Petroleum Exporting Countries will probably revive talks on freezing oil production levels when it meets non-OPEC nations in Algeria, sources have told Reuters.
(Reporting by Deisy Buitrago; Writing by Alexandra Ulmer; Editing by Peter Cooney)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Thanks for the memory cards: North Koreans return home from China
- Green Party's Stein drops Pennsylvania presidential recount petition
- Azeri security forces say kill man trying to detonate suicide belt
Create E-mail Alert Related CategoriesReuters
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!