OPEC members have reached a consensus on the need to extend existing oil production cuts for three months from January and will work on convincing their allies in the wider OPEC+ group to support such a move.
Algerian Energy Minister Abdelmadjid Attar, holder of OPEC's rotating presidency, made the announcement shortly before OPEC ministers began talks to discuss a policy that would help producers cope with weak demand in 2021 due to the coronavirus crisis.
OPEC, Russia and others are to hold their wider talks on Tuesday, after informal discussions of key ministers on Sunday had failed to reach a consensus.
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