OPEC Agrees To Cut Oil Output By 0.8Mln BpD For 6 Months Starting January- Press Release

Faizan Hashmi Published December 07, 2018 | 10:13 PM

The Organisation of the Petroleum Exporting Countries (OPEC) agreed to lower its oil output for six months by 0.8 million barrels per day from October 2018 levels, starting January, the OPEC press release said Friday.

VIENNA (UrduPoint News / Sputnik - 07th December, 2018) The Organisation of the Petroleum Exporting Countries (OPEC) agreed to lower its oil output for six months by 0.8 million barrels per day from October 2018 levels, starting January, the OPEC press release said Friday.

"The conference decided to adjust OPEC overall production by 0.8 million barrels per day from October 2018 levels effective as of January 2019 for initial 6 months with the review in April," the OPEC press release read at the OPEC-non-OPEC press conference after the ministerial talks said.

It was decided that OPEC's "next ordinary meeting will reconvene in Vienna, Austria in April 2019."