Oil producers set to cut output
The chief of the Organization of the Petroleum Exporting Countries (Opec) has said that there must be a "substantial" cut in output when the group meets in Vienna next week. "There will be a reduction in production at the next extraordinary meeting of Opec, and it will have to be a substantial one to get the balance right between supply and demand," Chakib Khelil, who is also Algeria's energy minister, said. "If it has to be 1.5 million barrels per day, or two million barrels per day, that's what it will be."
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