Oil firm Saudi expectations OPEC's common position

2016/9/1 14:56

{Int: Euphrates news} held on oil prices Thursday after Saudi Arabia said that the Organization of petroleum exporting countries {OPEC} moving toward a common position on oil production, some investors believe that it may support prices.

No raw futures global measurement November Brent changed to settle at 46.89 dollars per barrel by 0825 GMT after low closed 1.84 dollars to settle on Wednesday.

Crude futures rose five cents to us $ 44.75 per barrel to $ 1.65 after it landed at the previous meeting.

Said Adel Al-jubeir, the Saudi Foreign Minister on Thursday that producers inside and outside OPEC are moving increasingly towards adopting a common position.

Jubeir said during an event in Tokyo, Japan, "I think that there is a move towards a common position, {adopted} towards common effort."

It is expected that OPEC members will meet in Algeria on the sidelines of the International Energy Forum, from 26-28 September and is expected to try to revive a deal to install production.