OPEC to discuss production cut in November

OPEC will discuss at a meeting in November whether to extend or end production cuts, Kuwait's oil minister Essam al-Marzouq says.

"At our next meeting at the end of November...the most important items will concern the fate of the agreement to extend or terminate the production cut," Marzouq told Kuwait TV in an interview on Monday.

He said oil inventories in recent weeks fell more than expected and that one-week forecasts were two million barrels a day, down from 6.5 million.