OPEC calls informal meeting of member countries in Algeria

Baku, September 29, AZERTAC Informal meeting of OPEC member countries convened in Algeria. The event is to discuss feasible measures on stabilization of the world oil market. The meeting is expected to continue negotiations on the coordinated actions in the oil market, including possible freezing of production level. The meeting takes place within the International Energy Forum (IEF) which began yesterday. The most part of IEF sessions already took place. However, as the Oil Minister of Nigeria Emmanuel Ibe Kachikwu stated, following the results of the first day of negotiations participants didn't manage to reach any agreements on freezing oil extraction. Prior to informal meeting of OPEC, there took place a number of bilateral and multilateral negotiations of member countries who tried to pull together their positions concerning possibility of collateral actions in the market.