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OPEC could cut output more in Nov if needed: Algerian official

Posted on 07 October 2016

OPEC could cut production at its late-November meeting in Vienna by another 1 percent more than the amount agreed in Algiers last month if producers reckon it is needed, Algerian Energy Minister Nouredine Bouterfa told local Ennahar TV.
He also told Ennahar that OPEC and non-OPEC members would hold an informal meeting in Istanbul on Oct. 8-13 to discuss how to implement the Algiers deal, though he did not give details about who would attend. OPEC producers agreed in Algiers in September to reduce output by around 700,000 barrels per day to a range of 32.5 million to 33.0 million barrels per day, its first cut since 2008. OPEC estimates its current output at 33.24 million bpd……………………………………….Full Article: Source


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