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

*OPEC headquarters, Vienna, Austria.

*OPEC headquarters, Vienna, Austria.

11 September 2016, London — OPEC is not seeking a definite price range for crude but wants to stabilize 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.

“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.

*Hamid Ould Ahmed; Patrick Markey; Editing – Aidan Lewis – Reuters

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