November 20, 2018 / 2:00 PM / 23 days ago

UAE says OPEC likely to agree to cut oil output at Vienna meeting: Al Bayan newspaper

The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen at OPEC's headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger

DUBAI (Reuters) - There is an initial agreement within OPEC to cut production in the coming meeting in Vienna on December 6, but the amount has not been decided yet, UAE OPEC Governor Ahmed al-Kaabi said on Tuesday.

He said that OPEC will very likely reduce production, adding that the (JMMC) technical committee at OPEC was still studying markets and will share final conclusions before Vienna’s meeting, he told the Al Bayan newspaper.

He added that the UAE is committed to any OPEC decision.

Reporting by Hadeel Al Sayegh; editing by Jason Neely

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