Algerian minister confident about OPEC agreement.

Nouredine Bouterfa, the Energy Minister of Algeria, said today that there is a great likelihood that members of OPEC would commit themselves to the agreement to cut back oil production in September's meeting. He said that a technical committee was still working on ways to implement the deal and said that there would be no backtracking on the deal made in Algiers. In October, officials from the oil cartel met in order to clarify and work on the agreement reached in Algiers to cut back on oil production, however the meeting failed to bear any fruit. Another meeting between the high level committee of experts is scheduled to take place on 25 November in Vienna before OPEC ministers meet on November 30.

 

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