19:25 GMT +308 December 2019
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    Skikda oil refinery, 350 kilometers east of Algiers, Algeria (File)

    Oil Producers Could Agree on Output Freeze in Algiers

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    There is a chance that oil producers could agree to freeze oil production to stabilize prices at their meeting next week, Russian Deputy Prime Minister Arkady Dvorkovich said Friday.

    MOSCOW (Sputnik) — The Organization of the Petroleum Exporting Countries (OPEC) member states are expected to renew talks on a possible oil output freeze with non-member states at the September 26-28 International Energy Forum (IEF) in Algiers, Algeria.

    "It is difficult to predict if it would be possible to reach such an agreement, every country has its own interests. Nevertheless, there is a chance, we will see how the situation develops," Dvorkovich said in an interview with the Rossiya-24 broadcaster.

    He said Energy Minister Alexander Novak would represent Russia in Algiers looking to reach an agreement.

    Major oil-producing states failed to reach an output-freezing agreement in Doha, Qatar last spring after Saudi Arabia backed out, citing Iran's absence at the talks.

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    Tags:
    freeze, oil output, OPEC, Alexander Novak, Algeria
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