Kuwaiti Oil Minister Bakheet al-Rashidi said that OPEC and non-OPEC production will be reviewed during the Algeria meeting and that oil markets expected to remain stable until the end of this year.
Saudi Arabia will chair the meeting of the joint ministerial committee between OPEC and non-OPEC states on September 23 in Algeria. The meeting is expected to be interesting, with Iran also attending. Iran has asked to attend the meeting to defend its market share, which may be affected by US sanctions which will come into effect in November.
After months of cut production to support prices, OPEC agreed with Russia and some other oil producers to increase production from July.
