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Kazakhstan|business|October 8, 2016 / 02:20 PM
Kazakhstan to take part in OPEC informal meeting in Turkey

AKIPRESS.COM - oilOPEC and non-OPEC oil producers plan an informal meeting in Istanbul October 8-13 to discuss how to implement a production deal OPEC members reached in Algiers last month, Algerian Energy Minister Nouredine Bouterfa said. 

The informal meeting on oil freeze will bring together energy ministers from Algiers, Saudi Arabia, Qatar, Kuwait, Gabon, the UAE, Venezuela, Russia as well as Brazil, Kazakhstan, Azerbaijan, Mexico and Oman, RIA Novosti reported. 

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.

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