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OPEC Agrees on Output Cut: Algeria - ASHARQ AL-AWSAT English Archive
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ALGIERS (Reuters) -OPEC’s ministers have reached an agreement to cut output by 1.0 million barrels per day and they will announce the decision at a meeting in Doha on Oct 18 to 21, Algeria’s energy and mines minister said on Sunday.

“All OPEC members came to an agreement to reduce OPEC production by 1.0 million barrels per day,” said Chakib Khelil, quoted by the official Algerian news agency APS as telling reporters in parliament.

“We (OPEC ministers) will make that announcement (of the production cut) officially and in a coherent manner during our next meeting in Doha,” he added.

“The cut would certainly have direct impact in the market,” he said.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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