OPEC: Algerian proposal on output cut adopted in Vienna

APS : Wednesday, 30 November 2016
VIENNA – The Algerian proposal on output cut, which was submitted to the Ministerial Conference of the Organization of The Petroleum Exporting Countries (OPEC) has been adopted Wednesday in Vienna, reliable sources told APS on Wednesday.
The proposal which was selected as a working basis by the Cartel’s High Level Expert Committee provides for the reduction of nearly 1.1 million barrels per day to be applied by OPEC-member countries.
OPEC members are now drafting the final communiqué of the Conference held behind closed doors.
A news conference is scheduled after the conference.

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