OPEC oil ministers meet on Wednesday in an effort to finalize their deal. The organization also wants non-OPEC producers such as Russia to curb output. Russian Energy Minister Alexander Novak on Thursday said OPEC had proposed that non-OPEC cut oil production by 500,000 bpd. A similar OPEC and non-OPEC meeting in October resulted in no specific pledges from outside producers to cut output, with attendees citing the lack of an internal OPEC agreement. Ahead of next Wednesday's OPEC meeting, ministers are still trying to find agreement.

Source: Egypt Independent November 27, 2016 17:54 UTC