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Former OPEC official El-Badri says non-OPEC cut a 'must' - conference
December 8, 2016 / 6:34 PM / a year ago

Former OPEC official El-Badri says non-OPEC cut a 'must' - conference

(Reuters) - Abdalla Salem El-Badri, who stepped aside as OPEC Secretary General in August, said Thursday at a conference a crude oil production cut of about 600,000 barrels per day from non-OPEC members is a “must”.

The Organization of the Petroleum Exporting Countries agreed last month to cut production by 1.2 million bpd, but has been working to convince non-OPEC members, including Russia, to reduce output as well.

“You have to cut production,” he said at a Platts conference in New York. “This decision is a positive step forward.”

Reporting by Jessica Resnick Ault; Editing by James Dalgleish

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