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Iran and Iraq not to attend oil talks

International Business
Mon, 10 Oct 2016

Istanbul: The oil ministers of Iran and Iraq will not attend informal talks between Opec and non-Opec producers in Turkey this week, sources said yesterday.

Opec sources and the Russian energy minister had said on Thursday that ministers from the two countries would be among representatives of Opec states at the meeting in Istanbul, which is hosting the World Energy Congress.

The Organisation of the Petroleum Exporting Countries agreed on September 28 a deal to limit crude production and is looking to secure the co-operation of non-Opec members such as Russia to help support oil prices.

The meeting in Istanbul is expected to be more bilateral gatherings rather than one single meeting of both Opec and non-Opec states, one of the sources said yesterday, dismissing prospects of any decisions being taken in the Turkish city.

Energy ministers who will be present in Istanbul as it hosts the congress include those of the UAE, Algeria, Venezuela and Qatar, which holds the Opec presidency.

The agreement reached in Algiers is expected to be implemented this year and Opec ministers will next meet in Vienna on November 30 to set the group’s supply policy. 

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