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OPEC to decide about oil output cut next week

OPEC to decide about oil output cut next weekOPEC will debate an oil output cut of 4.0-4.5 percent for all of its members except Libya and Nigeria next week, Reuters said on Tuesday.

Still the deal's success hinges on an agreement from Iraq and Iran, which are far from certain to give their full backing.

A gathering of experts from the oil producer group in Vienna had decided on Tuesday to recommend that a ministerial meeting next week debate a proposal from member Algeria to reduce output by 4.0-4.5 percent, three OPEC sources told Reuters.

But sources also said the representatives of Iran, Iraq and Indonesia had expressed reservations about their level of participation in the proposed deal.
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