In late September at an informal meeting in Algeria, OPEC agreed for a range of 32.5-33 million barrels of oil production per day, though there have not been set certain limits yet for each member of the organization. The final decision on the agreement will be made on November 30 in Vienna during OPEC's official meeting.

At the same time, OPEC hopes, that other oil-producing countries, primarily Russia, will also join the measures accepted to stabilize the market. The Kingdom, according to the newspaper, considers that it’s presence is pointless as long as the cartel members have not yet agreed among themselves, and in general doubts about the need to hold such a meeting.

"Since the OPEC agreement is not reached, there is no need to hold a meeting with nonmembers of OPEC. If the issue still proceeds, the meeting does not make any sense, "the newspaper quoted a source familiar with Saudi side view.