OPEC and Non-OPEC Ministers to Meet

OPEC and non-OPEC representatives will meet on December 10, in Moscow to finalize the agreement to limit OPEC members to an output quota. OPEC members agreed last week to reduce output by 1.2 million barrels per day starting in January 2017. OPEC hopes that non-OPEC countries will also contribute to the output reduction, reducing output by an additional 600,000 bpd. Russia has said it will contribute to the output agreement by reducing their national output by 300,000 bpd.