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The Wall Street Journal: Oil-output limits unlikely at Algeria meeting, OPEC members say

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An off-shore oil rig is seen off the coast of Port-Gentil, Gabon, on August 22, 2016.

OPEC members damped expectations over the weekend for an agreement to limit crude-oil output this month, as new pledges of increased production from several countries threatened to render any pact meaningless.

Mohammed Barkindo, the secretary-general of the Organization of the Petroleum Exporting Countries said late Saturday that no decision would be made at informal talks among the cartel’s members in Algeria next week.

“It is an informal meeting, it is not a decision-making meeting,” Mr. Barkindo told Algerian state media organization APS on Saturday night.

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