(Adds details, quotes, background)
By Rania El Gamal and Ron Bousso
ISTANBUL Oct 12 OPEC sought on Wednesday to
build momentum for its plan to cap global oil production, saying
it will extend invitations to more non-member producers after
holding informal talks with Russia and Mexico in Istanbul.
Representatives of OPEC and non-OPEC countries will hold a
technical meeting on October 28-29 in Vienna to continue to
discuss "a road map" towards an agreement, Qatar's Energy
Minister Mohammed al-Sada told reporters after the meeting on
the sidelines of the World Energy Congress in Istanbul.
It was unclear which other countries would join the
No specific production figures were discussed during
Wednesday's meeting but more details will likely be discussed at
the technical meeting in Vienna, Russian Energy Minister
Alexander Novak said.
Russian President Vladimir Putin said on Wednesday he saw
no obstacles to a global agreement on an oil output freeze.
The Organization of the Petroleum Exporting Countries last
month in Algiers agreed on a modest production cap to a range of
32.50-33.0 million barrels per day (bpd). OPEC last month pumped
33.39 million bpd.
Al-Sada said there had been a "positive understanding of the
situation on what could be the role of OPEC and what could be
the role of non-OPEC" in balancing the oil market.
The International Energy Agency said global oil supply could
fall in line with demand more quickly if OPEC and Russia agree
to a steep enough cut in production, but it is unclear how
rapidly this might happen.
Any deal would face challenges from a 3 billion barrel
global inventory build in recent years as well as efforts by
OPEC members Libya and Nigeria to increase production curtailed
Iran is also seeking to return its production to levels
reached before it was hit by international sanctions in 2012.
(Reporting by Rania El Gamal, Ron Bousso and Parisa Hafezi)