OPEC to announce output cut, but not this weekend

LONDON – OPEC looks set to announce a further output cut of up to 1.5 million barrels per day (bpd) this year but will probably wait until its next policy meeting in December before making the move, a poll suggested on Monday.

Eight of 15 oil analysts surveyed by Reuters Nov. 21-24 said the Organization of the Petroleum Exporting Countries was unlikely to announce any reduction at its informal gathering in Cairo on Saturday.


Most believe the 12-member group, responsible for around 40 percent of the world