Chakib Khelil, who is also Algeria's energy minister, says it isn't realistic to expect the cartel to reach a decision during an emergency summit convened in Cairo later this month.

The Opec head told reporters on Sunday that 'currently, the market doesn't take us seriously' because some members haven't fully enforced quotas.

Iran has called for a new output cut of at least 1 million barrels per day, in addition to the 1.5 million cut decided by Opec on Oct 24. -- AP