VIENNA (AP) OPEC is extending its deal to cut production for another nine months in bid to keep oil prices from sagging as the oil cartel faces a weakening outlook for global demand.
The decision among the members of the Organization of the Petroleum Exporting Countries came during a meeting Monday at the cartels headquarters in Vienna.
Saudi Arabias Energy Minister Khalid Al-Falih said the commitment to a nine-month extension is unequivocal, very solid, very strong among OPEC members. He said he expected non-member producing countries such as Russia to join in extending the cuts at a separate meeting today.
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