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Algeria says OPEC discussing nine-month extension to cuts
May 23, 2017 / 2:32 PM / 4 months ago

Algeria says OPEC discussing nine-month extension to cuts

The OPEC logo is seen outside their headquarters in Vienna, Austria, October 24, 2016. REUTERS/Leonhard Foeger

VIENNA (Reuters) - Algerian Energy Minister Noureddine Boutarfa said on Tuesday that OPEC was discussing a possible nine-month extension to oil output cuts, with curbs kept at the same level as under the group’s existing deal.

“Right now we are talking about nine months,” Boutarfa told reporters.

The Organization of the Petroleum Exporting Countries meets in Vienna on Thursday to consider whether to prolong the deal reached in December in which OPEC and 11 non-members, including Russia, agreed to cut output by about 1.8 million barrels per day in the first half of 2017.

Reporting by Ahmad Ghaddar; Editing by Dale Hudson

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