Chakib Khelil

OPEC must call for "drastic cut" of oil production, president says

OPEC must call for "drastic cut" of oil production, president says Algiers/Paris  - The Organization of Petroleum Exporting Countries (OPEC) must decide on a "drastic" cut of oil production during its next meeting, OPEC president Chakib Khelil, told Algerian radio on Thursday.

The next meeting is scheduled for December 17 in Oran.

"The Oran meeting must decide on a drastic (production) cut to establish an equilibrium between supply and demand," Khelil said during an interview on Radio Algerienne. Khelil is also Algeria's energy minister.

Oil prices sky rocket, OPEC not to increase production

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