OPEC oil ministers have scheduled their meeting for around 9.00 a.m. local time (0700 GMT), an OPEC official said on Friday.

Ministers have said they want to cut output after oil prices have dropped sharply since a record peak in July.

Gulf producers in the group favour a cut of one million barrels per day while some others are looking for a deeper reduction, an OPEC source told Reuters.

Source: http://www.afxnews.com

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