OPEC Informal Meeting Ends, Ministers Say Nothing Decided

Saudi Arabia's oil minister Ali al-Naimi said he had an "excellent" informal meeting on Thursday with fellow OPEC ministers but declined further comments, while other ministers said no decision was made.

OPEC holds a formal meeting on Friday and an informal meeting of its members ahead of this is rare, although not unprecedented. It was attended by ministers from Saudi Arabia, Iraq, Iran, the UAE, Venezuela, Ecuador, Qatar, Kuwait, Nigeria and Algeria.

Iraqi Oil Minister Adel Abdel Mahdi said that nothing had been decided at the informal meeting.

Iranian Oil Minister Bijan Zangeneh said that some members had made proposals that could be discussed on Friday but he would not disclose them. All comments were made after the meeting was over.