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OPEC not seeking definite price range, but market stability at Algiers meeting - Barkindo

Published 10/09/2016, 16:45
Updated 10/09/2016, 16:50
© Reuters. A worker checks the valve of an oil pipe at Al-Sheiba oil refinery in the southern Iraq city of Basra

ALGIERS (Reuters) - OPEC is not seeking a definite price range for crude but wants to stabilise the market at a meeting in Algiers later this month, OPEC Secretary-General Mohammed Barkindo said, according to Algerian state-run APS news agency on Saturday.

APS said he made his comments to the agency after meeting late on Friday with the Algerian and Saudi oil ministers in Paris.

© Reuters. A worker checks the valve of an oil pipe at Al-Sheiba oil refinery in the southern Iraq city of Basra

"The oil market must stabilise with less volatile prices. This is what we are trying to do though our consultations, restoring a sustainable stability for the market," he was reported as saying.

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