May 24, 2017 / 9:01 AM / 3 years ago

Kuwait oil minister says deeper OPEC output cuts possible

VIENNA (Reuters) - Kuwaiti Oil Minister Essam al-Marzouq said on Wednesday that all options are on the table for talks among OPEC and non-OPEC oil producers this week, including deeper output cuts and extending existing production curbs by one year.

“All options are still open ... we will raise our recommendations to the ministerial council tomorrow,” Marzouq told reporters when asked whether options included deeper cuts and a one-year extension.

The Organization of the Petroleum Exporting Countries meets in Vienna on Thursday to consider whether to prolong the deal reached in December in which OPEC and 11 non-members, including Russia, agreed to cut output by about 1.8 million barrels per day in the first half of 2017.

Reporting by Alex Lawler; Editing by Dale Hudson

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