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OPEC starts informal meeting

OPEC starts informal meetingEnergy ministers from Qatar, the United Arab Emirates, Algeria, Venezuela and Russia began informal closed-door talks with the secretary general of OPEC in Istanbul on Wednesday as they try to coordinate efforts to rebalance the oil market.

OPEC officials are holding a flurry of meetings in coming weeks to nail down an agreement reached in Algiers last month on modest output cuts, the first such deal since 2008, for which they are seeking cooperation from non-OPEC producers.

The ministers were meeting on the sidelines of the World Energy Congress in Istanbul. No decision is expected from Wednesday's talks.
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