Sources: OPEC to discuss next week the reduction of the total oil production to 32.5 million barrels / day

Market news

24 November 2016

Sources: OPEC to discuss next week the reduction of the total oil production to 32.5 million barrels / day

production cut could reach 1.3 million barrels / day
The proposed level of OPEC production restrictions implies a reduction of 1.143 million barrels / day (according to independent sources)
OPEC intends to ask Russia to cut oil production by 300,000 barrels / day
OPEC asks countries outside the cartel to cut oil production by 500 000-600 000 barrels / day
OPEC is prepared to go to greater cuts due to a slower than expected rebalancing of the oil market

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