VIENNA — Saudi Arabia is poised to advocate that OPEC cut oil production by about a million barrels a day — roughly 1 percent of the global oil supply — as the group begins discussions on Thursday on ways to keep supply and demand in balance.
Khalid al-Falih, the Saudi energy minister, said Thursday morning that “all options” are on the table but that a reduction of one million barrels was “adequate” to balance the markets. He added that he had heard a range of numbers discussed, from 500,000 to 1.5 million barrels a day.
