05:20 GMT +328 September 2016
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Skikda oil refinery, 350 kilometers east of Algiers, Algeria (File)

Deal on Oil Production Freeze Could be Finalized in November

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Members of the Organization of the Petroleum Exporting Countries (OPEC) may meet in November with other oil producers to finalize an agreement on oil production freeze if they reach an agreement within the cartel, Saudi Energy Minister Khalid Falih said Tuesday.

ALGIERS (Sputnik) — OPEC members will hold informal talks on the sidelines of the 15th International Energy Forum in Algeria on Wednesday.

"We will hold consultations between OPEC countries tomorrow, and if we reach an agreement, we will get together with non-OPEC oil producers and will hold a meeting, probably in November, to finalize this agreement, which will raise the balance and bring serious investments in sustainable supply at levels that satisfy a healthy demand," Falih said in an interview with Rossiya 24 television.

Falih expressed hope, though, that global oil prices would grow regardless of the agreement on production freeze.

Related:
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oil output, OPEC, Russia, Algeria
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