OPEC to take decisions for the stabilisation of the market on December 12: Report

OPEC member countries are going to take during the upcoming meeting scheduled for December 12 in Vienna the necessary decisions that would allow to stabilise the price bracket over 28-22 dollars the barrel, Algeria minister of energy and mining, M. Chakib Khelil said on Monday.

"We have discussed during this meeting the situation of the market, political evolution, previsions of the first, second and third trimester and we could take the necessary decisions to stabilise prices over 28-22 dollars the barrel", the minister was quoted by Algeria Press Service as saying in the sidelines of the conference on draft bill of the law on hydrocarbons.

The minister observed that OPEC alone didn't work for the stabilisation of the market. The non OPEC countries also have the responsibility to make and effort for this stabilisation which is in favour of all the parts.

He added that no overproduction on the market is creating any problems for the time being. "If the winter will be mild in USA the problem may be raised during the second trimester and the demand may be reduced which is going to require a reduction in the production". (*)