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Oil output commission to meet in Vienna on January 21-22

December 28, 2016, 18:58 UTC+3
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KUWAIT, December 28. /TASS/. The meeting of the commission for control over oil production cut by OPEC countries and non-OPEC oil producers, will be held in Vienna on January 21-22, Kuwaiti Oil Minister Issam Al-Marzouq said.

"Preparations are under way to hold a meeting for the Kuwait-chaired special commission tasked with monitoring adherence to crude oil cut on January 21-22 in Vienna," the minister said as quoted by Kuwait News Agency. 

Earlier OPEC Secretary General Muhammad Barkindo said that commission for monitoring of oil production by OPEC and non-OPEC oil producers will gather on January 13 in Abu Dhabi.

On December 10, OPEC and non-OPEC countries signed the agreement on joint reduction of oil output at a meeting in Vienna on December 10. Also, 11 countries will join the announced cut by OPEC members of 1.164 mln barrels per day in the first half of next year, and reduce production by another 558,000 barrels per day. Thus, the total crude oil production cut will amount to 1.7-1.8 mln barrels per day. Russia plans to cut its oil production by 300,000 barrels per day in the first half of next year.

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