at least a million barrels per day of the group’s production in a bid to
prevent further drops in oil prices is top on the meeting’s agenda in Vienna on
November 30, 2016, OPEC members agreed to cut their overall output by 1.2 mbd
to bring the group’s production to 32.5 mbd.
after the decision, OPEC and non-OPEC producers agreed to totally cut their
output by 1.8 mbd; an agreement which was extended until the end of 2018.