Kuwait says OPEC, non-OPEC states may ink long-term deal

Kuwait says OPEC, non-OPEC states may ink long-term deal

Mubasher: OPEC members and non-OPEC countries are expected to sign a long-term cooperation agreement, Kuwait’s oil ministry said late Wednesday in its official account on Twitter.

OPEC is meeting on Thursday in Vienna and will be followed by talks on Friday with allies, including Russia, according to Reuters.

“The producer group's de facto leader, Saudi Arabia, has indicated a need for steep reductions in output from January but has come under pressure from U.S. President Donald Trump to push oil prices lower,” Reuters added.