Investing.com - OPEC may cut output at November meeting by more than agreed in Algiers.
At an informal meeting last month in Algiers OPEC agreed to cut output to 32.5-33.0 mn b/d.
That would represent a cut of some 700,000 barrels to address global glut.
“If 700,000 barrels are not enough, we will go up,” Algerian Energy Minister Nouredine Bouterfa said.
“If we need to cut by 1%, we will cut by 1%," Bouterfa told local Ennahar TV.
U.S. crude turned higher to trade up 0.12% at $49.89 at 06:00 ET after an intraday low of $49.34