Dubai( CNN Business) OPEC is discussing how much petroleum it is appropriate to remove from world markets following a price crash in recent months.
A senior OPEC delegate told CNN Business that members are trying to achieve a consensus to cut output by 1.3 million barrels a day. But OPEC's de facto leader, Saudi Arabia's energy minister Khalid Al-Falih, told reporters a cut on that scale might be “excessive” given a recent decision by Canada to scale back its production.
“The number that we need is going to be less than 1.3[ million] — is it a million, or slightly less, slightly more … we have all day today, and some of tomorrow to decide the best number, ” Al-Falih said.
