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OPEC and other oil producers tentatively inch towards a production freeze

Business Line

OPEC and other oil producers tentatively inch towards a production freeze

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At the end of September Algeria will host the International Energy Forum, bringing together producers and consumers, a gathering which some hope could lead to a freeze of oil production.

Members of the Organization of the Petroleum Exporting Countries will be joined by non-member producers including Russia for consultations on limits to rein in a supply glut that has triggered a price collapse in the last two years.

If they can agree on a freeze that would push up prices and maybe open the door to a reduction in output.

In this edition of Business Line we look at the background to those discussions and their chances of success.

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