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Austria: Non-OPEC members agree to cut 600,000 barrels a day to stabilise prices02:16

Austria: Non-OPEC members agree to cut 600,000 barrels a day to stabilise prices

Austria, Vienna
December 10, 2016 at 11:49 GMT -00:00 · Published

SOT, Journalist (English): "Do you think you can get to 600,000 today?"

SOT, Mohammed Barkindo, OPEC Secretary-General (English): "Oh even more maybe."

SOT, Journalist (English): "What about Russia, sir?"

SOT, Mohammed Barkindo, OPEC Secretary-General (English): "Russia is the most committed. Russia is the co-chair of this meeting. This is the first time it's happening, and Russia will also be part of the joint monitoring committee."

OPEC Secretary General Mohammed Barkindo said that he expected non-OPEC oil producers to reduce their output by a total of 600,000 barrels per day or even more, during an brief statement outside OPEC headquarters in Vienna, Saturday.

Speaking to the press ahead of Saturday's meeting between OPEC and non-OPEC members in the organisation's headquarters in Vienna, Barkindo called it "historic" as it was the first to include 12 non-OPEC member producers.

Commenting on Moscow's role in the negotiations, Mohammed Barkindo stated that Russia was "the most committed" to reaching an agreement, adding that Russia would co-chair the Saturday meeting for the first time and would be part of the joint monitoring committee.

On November 30, OPEC countries agreed to cut production by 1.2 million barrels per day to 32.5 million. Under the deal, OPEC also wants oil-producing nations outside the cartel to curb their output by 600,000 barrels a day.

Austria: Non-OPEC members agree to cut 600,000 barrels a day to stabilise prices02:16
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Description

SOT, Journalist (English): "Do you think you can get to 600,000 today?"

SOT, Mohammed Barkindo, OPEC Secretary-General (English): "Oh even more maybe."

SOT, Journalist (English): "What about Russia, sir?"

SOT, Mohammed Barkindo, OPEC Secretary-General (English): "Russia is the most committed. Russia is the co-chair of this meeting. This is the first time it's happening, and Russia will also be part of the joint monitoring committee."

OPEC Secretary General Mohammed Barkindo said that he expected non-OPEC oil producers to reduce their output by a total of 600,000 barrels per day or even more, during an brief statement outside OPEC headquarters in Vienna, Saturday.

Speaking to the press ahead of Saturday's meeting between OPEC and non-OPEC members in the organisation's headquarters in Vienna, Barkindo called it "historic" as it was the first to include 12 non-OPEC member producers.

Commenting on Moscow's role in the negotiations, Mohammed Barkindo stated that Russia was "the most committed" to reaching an agreement, adding that Russia would co-chair the Saturday meeting for the first time and would be part of the joint monitoring committee.

On November 30, OPEC countries agreed to cut production by 1.2 million barrels per day to 32.5 million. Under the deal, OPEC also wants oil-producing nations outside the cartel to curb their output by 600,000 barrels a day.

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