OPEC meeting Algiers 280916The chairman of OPEC Mohammed bin Saleh Al-Sada (Qatar) said the petroleum organization decided Wednesday, in Algiers, to reduce oil production to a level between 32.5 mbd and 33 mbd.

Al-Sada, speaking at a newsconference at the end of the OPEC meeting, underlined that a high technical committee would be formed to set the output reduction mechanisms for each country.

The results of the technical committee's works will be presented at the next OPEC formal meeting, to be held next November in Vienna, according to him.

APS, 28/09/16