In Policy Shift, OPEC Opts for Production Cuts

In a significant policy reversal, OPEC members opted to revert to their traditional market management strategy of production targets to reduce the global oil supply glut during meetings that took place on the sidelines of the International Energy Forum in Algiers, September 26-28.

In Policy Shift, OPEC Opts for Production Cuts
Algeria's Minister of Energy Noureddine Boutarfa, left, speaks with Khalid al-Falih, Saudi Arabia's Minister of Energy, Industry, and Mineral Resources, at the 15th International Energy Forum meeting in Algiers, Algeria, Sept. 27. (AP Photo/ Sidali Djarboub)

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