OPEC seeking prices between $50-$60/barrel: Algeria

As per Shana news report, Algerian Energy Minister Noureddine Bouterfa over the weekend said the prices of crude oil at $50/barrel or below are unacceptable and added further that OPEC members are seeking prices between $50-$60/barrel.

Meanwhile, National Iranian Oil Company (NIOC) has reportedly said today that Iran oil output will be able to reach 4.3mbd in Q1 of 2017 and 5mbd in 2 years.