Indonesia proposes OPEC to cut 1.5 to 2 MBPD

Minister of Energy and Mineral Resources said on Thursday Indonesia wants OPEC to cut between 1.5 to 2 million barrel per day at the emergency meeting on April 24.

"I will attend..., and we will ask OPEC to cut between 1.5 to 2 million barrels per day," Purnomo Yusgiantoro told reporters before a limited cabinet meeting, when asked how much OPEC should cut its production.

OPEC has set an emergency meeting for April 24 in Vienna to discuss output cuts because it fears a glut of oil. The cartel wants to stop oil prices falling further after a sharp drop in the last month.

Indonesia is OPEC's only South-East Asian member. (*)