OPEC has invited 14 non-OPEC oil producers to finalize details of coordinated cuts on Saturday December 10, at the oil producer group’s headquarters in Vienna, secretary general Mohammad Barkindo said Monday. “We will have our joint ministerial level meeting with non-OPEC countries this coming Saturday, December 10, at the OPEC Secretariat in Vienna — the first such meeting since 2002,” Barkindo said at the Petrotech conference in New Delhi. OPEC decided on November 30 to hold production at 32.5 million b/d starting January 1, 2017 — the first coordinated cut since 2008 — amounting to an approximate 1.2 million b/d cut from current output levels. The deal exempts Libya and Nigeria and is contingent on key non-OPEC producers also agreeing to cut 600,000 b/d in total. Members of the OPEC delegation in New Delhi also confirmed with reporters that 14 countries had been contacted to attend the meeting on […]