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ABU DHABI (Reuters) – A majority of OPEC oil exporters and allied countries is in favor of a reduction in the global supply of crude oil, Oman's Minister of Oil said Sunday, Mohammed bin Hamad al-Rumhi.
"Many of us share this view," the minister told the question of the need for a reduction. When asked if it could reach 500,000 or a million barrels a day, he replied, "I think it's unfair that I publish numbers now."
He was speaking in Abu Dhabi, where an oil watch committee met on Sunday with major exporters from Saudi Arabia and Russia.
"We need a consensus," he said, indicating that Russia's non-OPEC member should approve any decision. Oman is also not a member of the Organization of the Petroleum Exporting Countries.
Saudi Arabia is discussing a proposal to reduce oil production by OPEC and its allies to one million barrels a day, two sources close to the talks told Reuters on Sunday.
Reportage of Maha El Dahan; edited by Jason Neely
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