OPEC May Cut Output More

OPEC may decide on a second output reduction at its December meeting to strengthen the stability of oil prices, Algeria's Energy and Mines Minister Chakib Khelil said on Sunday.

OPEC, which pumps about a third of the world's crude, agreed last month to its first formal output curbs in over two years, in order to shore up sagging prices.

But in the last week prices resumed falling amid still high U.S. inventories and a broad commodities sell-off by investors, taking crude oil prices to their lowest level in 17 months.