ANZ: "It looks increasingly likely that an agreement won't be reached in Algiers"

From an ANZ research note today on the OPEC (and non-OPEC) oil meeting in Algeria

• "It looks increasingly likely that an agreement won't be reached in Algiers, with OPEC now working towards something at November's official meeting"

OPEC members will hold informal talks today (at 1400GMT Wednesday)

OPEC producers also meet with non-OPEC producers on the sidelines of the International Energy Forum in Algiers

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Earlier today:

• OIL - price up immediately after the release of the private inventory data