| On September 28, OPEC oil ministers held an informal meeting in Algiers to consider a reduction in their aggregate oil output with the goal of boosting oil prices. They announced an agreement to reduce output to a range of 32.5 to 33 million barrels per day (that is a reduction of about 250 to 750 thousand barrels per day, or less than one percent of world output) at their subsequent regular meeting.
However, they left the details (how the reduction would be distributed among its 14 members) to a committee with the specifics to be adopted at their next scheduled meeting on November 30..............................................Full Article: Source
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