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OPEC meets to cut production
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OPEC is set to hold a meeting in Vienna on Friday to discuss the progress made in their agreement to restrict production.
"The Organization of the Petroleum Exporting Countries (OPEC) will discuss extending the supply reduction agreement with independent producers to boost crude prices when it meets with them in Vienna on September 22," Algerian Energy Minister Mustapha Qitouni told reporters on extending production cuts.
The comments came after Iraqi Oil Minister Jabbar Laibi said that "producers are considering a number of options, including extending the cuts."
Opec producers agreed with others, including Russia, to cut production by about 1.8 million barrels per day (bpd) until March to reduce global oil inventories and boost prices.
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