Oil producers meeting in Vienna

The main oil-producing countries, whether or not members of OPEC will meet in the day 10 December in Vienna, after an agreement reached by the cartel to reduce oil production.

The day November 30, members of the Organization of petroleum exporting countries (Opec), led by Saudi Arabia, announced an agreement for a reduction of its production of 1.2 million barrels per day (mbd) from January 2017, which caused a price.

To Russia, which is not a member of the cartel, but is the third largest producer of oil, behind only Saudi Arabia and the United States, proved to be willing to reduce their offer on 300,000 barrels per day, i.e. half the effort that the Opec has requested to non-member countries.

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