Dubai (CNN Business)OPEC is discussing how much oil it should remove from world markets following a price crash in recent months. Members of the oil cartel meeting in Vienna on Thursday are ready to ignore President Donald Trump’s repeated calls to keep output steady. But the scale of the production cut remains subject to debate. A senior OPEC delegate told CNN Business that members are trying to achieve a consensus to cut output by 1.3 million barrels a day. But OPEC’s de facto leader, Saudi Arabia’s energy minister Khalid Al-Falih, told reporters a cut on that scale might be "excessive" given a recent decision by Canada to scale back its production. "The number that we need is going to be less than 1.3 [million] — is it a million, or slightly less, slightly more … we have all day today, and some of tomorrow to determine the best number," Al-Falih said. The Canadian province of Alberta announced last week it will pump 325,000 barrels a day fewer from January 1 because it is running out of space to store excess oil. OPEC is seeking to stabilize oil markets after US crude prices plunged 22% in November, marking the the […]
