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Wednesday, 21 September 2016

Saudis Said to Meet With Iran for Oil Talks Before Algiers - Bloomberg

Saudis Said to Meet With Iran for Oil Talks Before Algiers - Bloomberg:

"OPEC members Saudi Arabia and Iran, whose rivalry sunk an oil supply accord earlier this year, met in Vienna a week before the organization holds talks in Algeria.
The two oil producers, along with fellow OPEC member Qatar, met at the headquarters of the Organization of Petroleum Exporting Countries in Vienna, according to three people familiar with the matter. They were making preparations for informal discussions between energy ministers from OPEC and Russia in Algiers next week, the people said, asking not to be identified because the talks were private.
The face-to-face talks between Saudi Arabia and Iran, OPEC’s two leading members and fierce regional rivals, show diplomatic efforts to secure a meaningful deal in Algiers are still under way despite market skepticism. Prices have retreated this month amid concern there will be no serious commitment to constrain supply and all but two of 23 analysts surveyed by Bloomberg this week predict there will be no agreement next week."

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