OPEC Oil Gushes Ahead Of Talks To Cut Output
Fahad Shabbir (@FahadShabbir) Published November 11, 2016 | 07:10 PM
VIENNA, , (UrduPoint / Pakistan Point News - 11th Nov, 2016 ) - OPEC said Friday that it pumped oil at record levels last month even though the cartel aims to agree a production cut in less than three weeks in an effort to boost prices.
The Organization of the Petroleum Exporting Countries agreed in September in Algiers to trim production but the accord still has to be finalised on November 30 in Vienna.
In its November monthly report, OPEC said that its 14 members pumped 33.64 million barrels a day (mb/d) in October, 236,000 barrels more than in September.
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