November 12, 2018 / 7:22 AM / a month ago

Oil exporters discussed proposal for supply cut next year, Kuwaiti official says

DUBAI (Reuters) - A meeting of major oil exporters in Abu Dhabi has “discussed a proposal for some kind of cut in (crude) supply next year”, state-run Kuwait News Agency KUNA on Monday cited a Kuwaiti oil official as saying.

It said the proposal did not specify the volume of the cut, according to Kuwait’s governor to the Organisation of Petroleum Exporting Countries (OPEC), Haitham Al-Ghais.

Sunday’s meeting was attended by OPEC and non-OPEC countries with several oil ministers still in Abu Dhabi on Monday, including Saudi Arabia’s Khalid al-Falih.

Reporting by Maher Chmaytelli; Editing by Clarence Fernandez

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