Former OPEC official El-Badri says non-OPEC cut a 'must': conference
EghtesadOnline: Abdalla Salem El-Badri, who stepped aside as OPEC Secretary General in August, said Thursday at a conference a crude oil production cut of about 600,000 barrels per day from non-OPEC members is a "must".
The Organization of the Petroleum Exporting Countries agreed last month to cut production by 1.2 million bpd, but has been working to convince non-OPEC members, including Russia, to reduce output as well, according to Reuters.
"You have to cut production," he said at a Platts conference in New York. "This decision is a positive step forward."