Major oil states meet in UAE to discuss output cuts

BAGHDAD, Oil major producers will meet in the United Arab Emirates on Sunday to discuss the possibility of cutting crude output, while prices decline is triggering fears of its collapse as in 2014.

The Agence France-Presse said that the major oil states will meet in Abu Dhabi to discuss the possibility of reducing oil production.

The meeting will be attended by Oil Ministers from Russia, Saudi Arabia, Kuwait, Venezuela and the United Arab Emirates.

No decision is expected in Abu Dhabi today, but recommendations are made before an OPEC meeting scheduled for December in Vienna.

Source: National Iraqi News Agency