OPEC will meet with other countries on 9th December OPEC will meet with other countries on 9th December

According to the agency, this meeting may take place in Doha. 01.Dec.16 9:24 PM By Anna Tuzova Photo Toinnov.com    263

OPEC member countries plan to meet with the other non-OPEC countries on 9th December, according to Reuters with links to sources. As media said earlier, the member countries of the cartel has reached the agreement, which provides an overall oil output reduction by 1,2 million barrels a day to 32,5 million barrel per day. Iran, in particular may limit oil output level to 3,797 million barrel per day according to a decision have been made at a ministerial meeting of the OPEC in Wien. The largest oil producer in OPEC – Saudi Arabia - has expressed its plans on oil output reducing to 10,06 million barrel per day. The volume of oil output of Saudi Arabia in October totaled 10,54 million barrel per day. Another OPEC meeting, the main intrigue of which was whether the cartel agrees on oil output limiting, was held 30th November in Wien. The preliminary agreements were made on the meeting in the end of September in Algeria. It was recently revealed, that Indonesia has suspended its membership in OPEC. According to an OPEC chairman Minister of State for Petroleum, Dr Ibe Kachikwu, it couldn’t provide the volumes needed for membership. But it would return one day. It was reported earlier, that Indonesia hasn’t decided on oil output freezing yet.

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