November 29, 2017 / 3:57 PM / 3 months ago

OPEC, non-OPEC ministers recommend 9-month oil cut extension

VIENNA, Nov 29 (Reuters) - A ministerial committee of OPEC and non-OPEC producers including Russia and Saudi Arabia recommended on Wednesday that OPEC and non-OPEC allies extend oil production cuts by nine months at a meeting the following day.

“That’s one of the recommendations,” Kuwait’s Oil Minister Essam al-Marzouq told reporters when asked whether the committee had agreed on a nine-month extension.

An OPEC source also confirmed that the ministerial meeting agreed with the earlier proposal to extend production cuts until the end of 2018. (Reporting by OPEC team)

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