OPEC and non-OPEC producers to meet on Dec. 10 in Vienna

OPEC and non-OPEC producers to  meet on Dec. 10 in Vienna

OPEC will meet non-OPEC countries to finalize a global oil output-limiting pact on December 10 in Vienna, the first such meeting since 2002, OPEC's secretary general Mohammed Barkindo said on Monday.

The Organization of the Petroleum Exporting Countries agreed last week to reduce oil output by around 1.2 million barrels per day (bpd) beginning in January in a bid to reduce global oversupply and prop up prices. It hopes non-OPEC countries will contribute another 600,000 bpd to the cut. Russia has said it will reduce output by around 300,000 bpd.

Barkindo announced the meeting plan at a conference in New Delhi, according to a copy of his speech. The meeting had earlier been due to take place in Moscow, Reuters reminds.

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