http://www.cbc.ca/news/business/opec...sday-1.3874039
OPEC deal sees Saudis cutting production, pushing prices up
Quote:
An OPEC told Reuters the cartel also had reached agreement to suspend Indonesia from the Organization of the Petroleum Exporting Countries and allow Iran to set new production levels at 3.797 million bpd, a modest increase for the country trying to rebuild exports after its embargo was lifted.
The meeting was still ongoing after around six hours of debate. A news conference is planned once details are available.
Without Indonesia in the mix, it was not yet determined how much output would be cut overall.
|