He said the Algerian Energy Minister has carried out valuable efforts in recent months in order for the Organization of the Petroleum Exporting Countries (OPEC) members reach closer stances regarding output cut and market management.
He said the proposed package of the Algerian Energy minister regarding how much each of the producers will reduce their output was put on table and carefully studied.
"I am optimistic that the prices will rise and if we reach an agreement and this is what the global economy requires now," he added.
Asked whether Iraq has called for being considered as another exception of the output cut, he said, "We have not been informed of such demands from Iraq."
The 171st meeting of the member states of the OPEC is scheduled to be held on November 30 in Vienna.