Algeria gathers war protagonist for “oil talks”

Algeria managed to gather « war » protagonists inside OPEC Tuesday. Saudi Arabia, Iran, Russia, Kuwait and Iraq attended a meeting at the Conferences Palaces in Algiers.

Their positions converged and opinions were different about the “form” only. This would pave the way to find compromises.

Algeria’s Prime Minister Abdelmalek Sellal reassured those nations that the solutions which will be found will be suitable for everyone.

Energy minister Nourredine Bouterfa said Algeria will remain optimist until the end of the meeting.

The first day of the OPEC meeting was characterized by a battle “behind the scenes.” Yet, most of the remarks showed a consensus about oil price fall repercussions.

News agencies reported different reports, saying there is no consensus between Saudi Arabia and Iran about cutting production to take back oil excess in international markets.

Saudi energy minister Khaled Faleh’s remarks raised pessimism among oil markets. He said talks between OPEC nations and oil producing countries out of the organization are “consultative.” This triggered doubts about any opportunity to make an official decision during the meeting. Those remarks came in response to Iran’s energy minister.

Yet, those expectations remain temporary. Oil exporting countries are still meeting in Algeria. Attempts are still underway to reach consensus between Saudi Arabia and Iran.