FILE - In this Saturday, Dec. 10, 2016 file photo, Russian Minister of Energy Alexander Novak, left, and Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia attend a news conference after a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria. OPEC and key non-OPEC oil producers are near their target of taking 1.8 million barrels of crude a day off global markets less than two months after agreeing to do so in efforts to push up the price of crude, Russia's energy minister said Sunday, Jan. 22, 2017. Novak's upbeat comments to reporters came at the end of the first meeting of a joint OPEC-non-OPEC committee set up to monitor compliance to the Dec. 10 agreement. (AP Photo/Ronald Zak, FIle)
(The Associated Press)
VIENNA – OPEC and key non-OPEC oil producers seeking to push up the price of crude by cutting production say participants appear to be exceeding pledges to reduce output.
Russia and 10 other nations outside OPEC agreed with the 13 members of the Organization of the Petroleum Exporting Countries in December to take a total of 1.8 million barrels of oil a day from the global market within the first half of this year.
Russian energy minister Alexander Novak says participants already are close to that goal less than two months into the plan's start.
He estimated Sunday that "close to" 1.5 million barrels a day had already been cut, adding that many countries are exceeding promised reductions.
Novak spoke at the end of a meeting set up to monitor cutbacks.