UPDATE 2: OPEC to hold informal meeting in Algeria on Wed

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ALGERIA/MOSCOW, Sep 26 (PRIME) -- OPEC states will hold an informal meeting during the International Energy Forum in Algeria on Wednesday, Nigeria’s Oil Minister Emmanuel Ibe Kachikwu told reporters Monday.

“The day after tomorrow,” he said.

“We are positive (about the OPEC meeting and the decision to freeze the level of oil production), but can’s yet say with certainty about the results,” he said.

A high-ranking representative of the United Arab Emirates’ (UAE) delegation told PRIME that OPEC countries are unlikely to agree on a freeze of oil production at the meeting.

Morgan Stanley analysts also expect that the upcoming meeting will finish without any agreements reached and will become a base for further talks of OPEC members at an annual meeting on November 30 in Vienna.

Venezuelan Oil Minister Eulogio Del Pino said he hopes that OPEC countries will agree on a freeze of oil production at the meeting in Algeria.

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