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Opec chief: oil market stabilisation deal may last for one year: RIA

[MOSCOW] A possible deal on oil market stabilisation between the world's leading oil producing countries may last for one year, Mohammed Barkindo, secretary-general of the Organisation of the Petroleum Exporting Countries, said on Tuesday, RIA news agency reported.

Russia, as well as other major oil producers, will take part in an informal meeting in Algiers next week.

Several Opec producers have called for an output freeze to rein in an oil glut that triggered a price collapse in the last two years, hitting the revenues of major producers.