The 13 OPEC states agreed in their November 30 meeting in Vienna to cut their output by 1.2 million barrels per day and Saudi Arabia reduced its output by about 500,000 barrels per day, which was the highest possible portion in the production.
Kazakhstan, Guinea, Azerbaijan, Russia, Sudan, Malaysia, Oman, Sudan, Bolivia, Mexico, Bahrain and South Sudan are the countries present in the meeting with the 13 OPEC members.
Based on the incoming reports, Mexico has also agreed to cut its output by 150,000 barrels. More talks on the issue will continue.
The heads of representative delegations of the OPEC and non-OPEC states have started unofficial talks in a working breakfast in Vienna Intercontinental Hotel just an hour ago and reports indicated that in the working breakfast they will reach agreement by half.