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OPEC meets with non-OPEC producers for potential oil output cut

Xinhua, October 30, 2016 Adjust font size:

OPEC discussed with non-OPEC producers on Saturday in Vienna over a potential crude output cut.

Six non-OPEC countries attended the meeting with the Organization of the Petroleum Exporting Countries(OPEC) here. However, the talk yielded little information about the promise of oil output.

OPEC failed to reach an agreement over an output ceiling in the past serval meetings in Vienna, while the oil price was at a low level.

The group said in a press statement after the talk that the meeting was constructive, but no information is implying an output cut accord has been reached.

The ministers of OPEC are set to meet by the end of November, trying to reach an agreement on curbing the group's output. Endit