Tags: EU | OPEC Meeting

OPEC Talks Production Cuts at Previously Unannounced Meeting

Saturday, 29 October 2016 09:18 AM EDT

VIENNA (AP) — Senior representatives of OPEC and other oil producing nations are meeting in Vienna ahead of a ministerial conference of the oil cartel next month to discuss limiting production.

The previously unannounced meeting Saturday was aimed at hammering out details of an agreement last month to roll back output in hopes of increasing prices.

Six non-OPEC producers, including Russia and Azerbaijan, also have representatives at the meeting.

Last month's meeting set a production target for OPEC's 14 member countries of between 32.5 and 33 million barrels a day, a reduction of less than 1 million-barrels. But the perpetual difficulty is getting agreement from individual members to cut back.

OPEC Secretary General Mohammad Sanusi Barkindo alluded to the problem, saying "it is only together ... that we can move forward."

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Senior representatives of OPEC and other oil producing nations are meeting in Vienna ahead of a ministerial conference of the oil cartel next month to discuss limiting production.The previously unannounced meeting Saturday was aimed at hammering out details of an agreement...
EU,OPEC Meeting
130
2016-18-29
Saturday, 29 October 2016 09:18 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved