(Adds details on attendees)
ALGIERS Oct 6 OPEC could cut production at its
late-November meeting in Vienna by another 1 percent more than
the amount agreed in Algiers last month if producers reckon it
is needed, Algerian Energy Minister Nouredine Bouterfa told
local Ennahar TV.
He also told Ennahar that OPEC and non-OPEC members would
hold an informal meeting in Istanbul on Oct. 8-13 to discuss how
to implement the Algiers deal, though he did not give details
about who would attend.
OPEC producers agreed in Algiers in September to reduce
output by around 700,000 barrels per day to a range of 32.5
million to 33.0 million barrels per day, its first cut since
2008. OPEC estimates its current output at 33.24 million bpd.
"We will evaluate the market in Vienna by the end of
November and if 700,000 barrels are not enough, we will go up.
Now that OPEC is unified and speaks in one voice everything is
much easier and if we need to cut by 1 percent, we will cut by 1
percent," Bouterfa told Ennahar in an interview to be broadcast
later on Thursday.
Algeria is one of OPEC's price hawks, and this was the first
suggestion of a possible further decrease in output. Before the
Algiers meeting Bouterfa had been pressing for a 1 million bpd
OPEC production cut to stabilize prices.
Venezuela's Oil Ministry said on Thursday that oil ministers
from Algeria, Gabon, Qatar, Saudi Arabia, the United Arab
Emirates, and Russia would participate, as would the South
American country's oil chief, Eulogio Del Pino.
(Reporting by Lamine Chikhi; Additional reporting by Alexandra
Ulmer in Caracas; Writing by Patrick Markey; Editing by Jane
Merriman and Jeffrey Benkoe)