Energy ministers from Saudi Arabia, Iran, and Iraq will be among representatives of key member’s of the Organization of the Petroleum Exporting Countries (OPEC) producers meeting with Russia for informal discussions on oil output, reported Reuters.
The talks will come on the sidelines of World Energy Congress during October in Istanbul. The Russian Energy Minister, Alexander Novak, said that he planned to meet the Secretary General of OPEC, Mohammed Sanusi Barkindo, to discuss OPEC’s output deal, according to TRT World.
No decision is expected to be taken in Istanbul, yet the meeting will be a chance for the officials to discuss the next step after OPEC agreed in Algiers on a deal to limit its production. The agreement is expected to be implemented in 2016 and the group will work to obtain the cooperation of non-OPEC members in a move to support oil prices. Furthermore, oil ministers from OPEC countries will meet in Vienna during November to set the group’s supply policy.