Algeria says OPEC cut to be discussed, oversupply looming

VIENNA: Algerian Energy Minister Energy Minister Chakib Khelil said Monday the OPEC oil cartel would discuss a cut in production at a meeting here and that members saw "an oversupply problem" looming.

"Everybody agrees that we will have an oversupply problem of between half a million and one and half million (barrels per day) by early next year," said Khelil, who is acting OPEC president, as he arrived in Vienna.

Asked if OPEC would cut its output, he replied: "I don't know. I think there will be a discussion on that."