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Qatar Expects OPEC to Cut Oil Output by 1 Million Barrels a Day

By Maher Chmaytelli

Oct. 16 (Bloomberg) -- OPEC will likely cut oil output by 1 million barrels a day at its Oct. 24 meeting to check the drop in prices, Qatari Oil Minister Abdullah al-Attiyah said.

``It will be one million, or more,'' he told Qatar's al- Jazeera television channel. ``Prices have fallen a lot and we need to take measures.''

OPEC brought forward its planned meeting for next month in Vienna to Oct. 24 after crude prices slid to a 13-month low.

To contact the reporter on this story: Maher Chmaytelli in Cyprus at mchmaytelli@bloomberg.net

Last Updated: October 16, 2008 12:49 EDT

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