UAE energy minister says OPEC+ meeting 'will take the right decision'

Vienna: The OPEC+ meeting set to take place on Wednesday "will take the right decision", United Arab Emirates energy minister Suhail Al Mazrouei said on Wednesday.

OPEC+ producers are expected to discuss a cut to its production limits of as much as 2 million barrels a day, using current baselines, delegates said. Still, in reality the move will have a smaller impact on global supply as several countries are already pumping below their quotas. They may also discuss smaller cuts of 1 million to 1.5 million barrels a day, delegates said.

"This is an important meeting," Al Mazrouei added, addressing reporters in Vienna.