05:20 GMT +328 September 2016
Global oil prices continued falling Friday amid a worsening forecast by OPEC on oil demand by 2035

OPEC May Agree on Oil Output Freeze Conditions in November, Possibly Earlier

© AP Photo/ Hasan Jamali
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The Organization of the Petroleum Exporting Countries (OPEC) may make a decision on the oil output freeze conditions in November, though the OPEC may convene for a meeting earlier if necessary, Russian Energy Minister Alexander Novak said Tuesday.

ALGIERS (Sputnik) — In April, major oil-producing states failed to reach an output-freezing agreement in Doha, Qatar. Saudi Arabia, which had previously said that it would freeze output only if Iran followed suit, cited Tehran’s absence from the talks as the reason for not supporting an output freeze.

"I've heard today during bilateral consultations and multilateral talks with OPEC ministers that the formal decision may be taken in November, as well as that an OPEC session may be convened earlier if needed," Novak told journalists in Algeria where he is partaking in the International Energy Forum (IEF) taking place on September 26-28.

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oil output, OPEC, Alexander Novak, Russia, Algeria
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