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Minister of Energy, Industry and Mineral Resources Fahlah said Thursday that the Organization of Petroleum Exporting Countries (OPEC) to reach a final agreement is bound to limit production, and referred to the previous parties agreed to the lower limit of production target interval. His remarks helped spur oil prices on the day.

OPEC in Algeria in September meeting held a preliminary limited production agreement, the details of the agreement should be in the OPEC National Oil Minister on November 30 meeting in Vienna to finalize.

"The decision to activate a cap of 32.5 million barrels a day will speed up the recovery and will allow oil producers and consumers," Al-Arabiya told Saudi Al-Arabiya TV. "The oil market is on the path to a balance between supply and demand, Countries can benefit. "

OPEC reached an agreement on September 28 to agree to limit its supply to 32 to 33 million barrels per day, but Libya, Nigeria and Iran can be treated exceptionally, with oil production affected by wars and sanctions.

Farah and other ministers have said that OPEC will cut production to the extent, but did not specify the cut to the upper limit or lower limit.

Oil prices climbed to above $ 47 a barrel on Thursday as OPEC's comments from the Ministers such as Farrah will complete the expected warming in the deal.

"I am still optimistic that, if circumstances permit, in Algeria reached a consensus on limiting production will be converted to specific limits for each country, between countries to achieve a fair and balanced production," Pharaoh said.

A number of OPEC national energy ministers, including Pharacheh, are expected to meet in an informal meeting on the sidelines of a Doha gas-exporting conference to try to build consensus.

Algerian Energy Minister Nouredine Bouterfa said the deal would not be damaged by Iran's production problems.

"There is a strong consensus among the OPEC producers on the issue of frozen production," he told Reuters.

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