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Oman Oil Minister: Majority of OPEC and its Allies Support Cut


FILE - Oman's Oil Minister Mohammad bin Hamad bin Saif al-Rumhi attends during the opening session of the first Gas Exporting Countries Forum (GECF) summit in Doha, Nov. 15, 2011.
FILE - Oman's Oil Minister Mohammad bin Hamad bin Saif al-Rumhi attends during the opening session of the first Gas Exporting Countries Forum (GECF) summit in Doha, Nov. 15, 2011.

A majority of OPEC and allied oil exporters support a cut in the global supply of crude, Oman Oil Minister Mohammed bin Hamad al-Rumhi said on Sunday.

“Many of us share this view,” the minister said when asked about the need for a cut. Asked if it could amount to 500,000 or one million barrels per day, he replied: “I think it is unfair for me to throw numbers now.”

He was speaking in Abu Dhabi where an oil market monitoring committee was held on Sunday, attended by top exporters Saudi Arabia and Russia.

"We need a consensus," he said, indicating that non-OPEC Russia would need to approve any decision. Oman is also not a member of the Organization of the Petroleum Exporting Countries.

Saudi Arabia is discussing a proposal to cut oil output by up to 1 million barrels per day by OPEC and its allies, two sources close to the discussions told Reuters on Sunday.

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    Reuters

    Reuters is a news agency founded in 1851 and owned by the Thomson Reuters Corporation based in Toronto, Canada. One of the world's largest wire services, it provides financial news as well as international coverage in over 16 languages to more than 1000 newspapers and 750 broadcasters around the globe.

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