VIENNA—An oil producers’ committee led by Saudi Arabia and Russia recommended deepening crude-production cuts by 42% next year, according to Russian Energy Minister Alexander Novak, signaling the plan is likely to be adopted Thursday by OPEC. The Organization of the Petroleum Exporting Countries is meeting in Vienna to decide whether to extend or deepen collective production curbs of 1.2 million barrels a day. Non-OPEC allies led by Russia would then endorse the proposal Friday.

Source: Wall Street Journal December 05, 2019 15:33 UTC