Opec+ considering further 500,000 bpd oil output cut: Sources

LONDON: Opec and its allies are considering cutting their oilNSE 3.86 % output by a further 500,000 barrels per day (bpd) due to the impact on oil demand from the coronavirus, three Opec+ sources and a industry source familiar with the discussions said.

The Organization of the Petroleum Exporting Countries and allies including Russia, known as Opec+, are considering holding a ministerial meeting on Feb. 14-15, one of the Opec+ sources said, earlier than a current schedule for a meeting in March.