Report: OPEC+ members mull cutting oil output by 0.5–1 mln bdp Nov

MOSCOW, Sep 30 (PRIME) -- The OPEC+ members, who are to consider additional reduction of oil production in November at an upcoming meeting, are discussing a cut of 0.5–1 million barrels per day, Reuters reported on Friday citing sources with the alliance.

“OPEC+ oil producers considering lowering their output target at a meeting on October 5 are focused on a cut of between 500,000 and 1 million barrels per day (bpd) to support the market,” Reuters reported.

“Earlier this week, a source familiar with Russian thinking said Moscow could suggest a cut of up to 1 million bpd, while an OPEC source put the likely figure closer to 500,000 bpd. Talks are expected to continue ahead of the meeting,” it added.

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