Oil Ministers from Kuwait and Oman arrived at Vienna ahead of a meeting of the world’s biggest exporters who will discuss cutting output to help shore up prices and curb excess supply.
The de facto leader of the organization of the petroleum exporting countries, Saudi Arabia, has indicated a need for steep reductions in output from January but has come under pressure from U.S. President Donald Trump to push oil prices lower.
As he was leaving the meeting at the OPEC headquarters, Oman Oil Minister said the cut was recommended, but the numbers haven’t been discussed yet. Kuwait’s oil minister declined to comment.
Saudi Arabia has indicated earlier it wants OPEC and its allies to cut output by at least 1.3 million barrels per day, or 1.3 percent of global production.