Russia and some members of the Organization of the Petroleum Exporting Countries (OPEC) will discuss increasing oil output by up to 1 million barrels per day during OPEC's sub-committee review in Algeria on Sept. 23, Russia's Energy Minister Alexander Novak said on Monday.
During a press conference in Russia's Black Sea city of Sochi, Novak said the Algeria meeting would see discussions on various production scenarios for the oil market.
He stated that all OPEC members and some non-OPEC producing countries might well benefit from the outcome of the upcoming meeting.
'All alternatives for the oil market for OPEC and non-OPEC countries will be discussed,' he said.
On June 23 in Vienna, OPEC and some non-OPEC countries agreed to add 1 million barrels of daily production, based on the decision that Russia would increase its oil production by around 200 thousand barrels per day.
Reporting By E. Gurkan Abay in Sochi, Russia
Writing By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr