Non-OPEC yet to pledge concrete oil output steps after meeting OPEC

Kazakh official says producers need to agreed real numbers; Russia willing to freeze output

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Non-OPEC producers made no specific commitment on Saturday to join the Organisation of the Petroleum Exporting Countries in limiting oil output levels to prop up prices - a stance that suggested they wanted OPEC to solve its differences first.

Officials and experts from OPEC countries and non-OPEC nations including Azerbaijan, Brazil, Kazakhstan, Mexico, Oman and Russia met for consultations in Vienna on Saturday and only agreed to meet again in November before a scheduled regular OPEC meeting on Nov. 30, they said in a statement.

A day earlier, OPEC members themselves were unable to agree on how to implement a global deal to limit output after hours of talks amid objections by Iran which has been reluctant to even freeze its output levels, sources said.

“We have to agree on the real numbers,” non-OPEC Kazakhstan’s vice-minister of energy, Magsum Mirzagaliev, told reporters after seven hours of talks on Saturday.

“It is important that we meet once again with detailed numbers. We agreed that we have to meet in 3-4 weeks with numbers, because every country has his own opinion,” he said.

OPEC and non-OPEC said in a joint statement the meeting on Saturday was a “positive development” towards reaching a global output limiting deal on Nov. 30.

Oil is trading closer to $50 a barrel, less than half its price of mid-2014, weighed down by persistent
oversupply and squeezing the incomes of exporting nations.

Last month, OPEC agreed at a meeting in Algeria very modest production cuts, its first since 2008, in an effort to help prop up prices. But the cuts have yet to be finalized.

The meeting of OPEC experts, known as OPEC’s High Committee, does not decide policy but will make recommendations to the next OPEC ministerial meeting on Nov. 30.

Tehran argues it wants to regain its oil market share it had lost during years of sanctions, which were eased earlier this year as part of a nuclear deal with the West.

OPEC members have not agreed between themselves on a single set of production figures from which to make the agreed cutbacks, and members including Iraq, Iran, Libya and Nigeria - whose output has been held back by sanctions or conflict - have asked for special treatment in curbing output.

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