OPEC+ meeting may consider output cut this week: report

Members of the OPEC+ group of oil producers will meet this week in Vienna to consider a production cut of 1 million barrels a day.

Oil prices haveA final decision on the size of the cuts won’t be made until ministers meet, the delegates said.

It’s since dropped to $85, cutting into the profits that Saudi Arabia, Russia, the United Arab Emirates and other members of the coalition have enjoyed.Oil prices dipped on Friday in choppy trading but notched their first weekly gain in five on Friday. Brent crude futures traded at $87.96 a barrel.

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