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Commodities

Saudi's Falih says OPEC consensus 'imperative' on output cut: Algeria state media

Saudi Arabia's Energy Minister Khalid al-Falih talks during the 23rd World Energy Congress in Istanbul, Turkey, October 10, 2016. REUTERS/Murad Sezer

ALGIERS (Reuters) - Saudi Energy Minister Khalid al-Falih has said it was imperative for OPEC members to reach a consensus on activating a deal made in September in Algiers to cut oil production, according to Algeria’s state news agency APS on Sunday.

“In this situation marked by a disruption in oil markets, it is imperative to reach a consensus among OPEC’s countries and to agree on an effective mechanism and accurate figures to activate the historic agreement of Algiers,” APS quoted Falih saying after a meeting with Algeria’s oil minister.

Reporting by Patrick Markey

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