Make Kitco Your Homepage

OPEC+ to debate oil cuts as big as 20 million bpd: sources

Kitco News

LONDON (Reuters) - OPEC and other oil producers will debate on Thursday oil cuts as big as 20 million barrels per day, equivalent to about 20% of global supplies, one OPEC source and a Russian source told Reuters.

“That is a global deal,” the OPEC source said.

He did not specify if the United States would be involved - something Russia and OPEC producers have insisted on.

Another OPEC source and a separate Russian source told Reuters that Russia and Saudi Arabia had managed to remove their main obstacles to agreeing a new deal on oil cuts.

Reporting by OPEC team; Writing by Dmitry Zhdannikov; Editing by Edmund Blair

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.