Oil jumped nearly 4 percent on Monday as the world's largest producers gathered in Algeria to discuss ways to support prices, with nervous trade driving volatility to its highest since a similar meeting to freeze output in April in Doha which failed. The Organization of the Petroleum Exporting Countries and other exporters led by No. 1 producer Russia are meeting informally on the sidelines of the International Energy Forum in Algeria from Sept. 26-28 to discuss steps to tackle a price-eroding glut of crude.

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