OPEC, non-OPEC committee recommends oil cuts at same level

OPEC member Kuwait said earlier it could not rule out a scenario under which OPEC and non-OPEC would deepen the cuts.

But the source said a ministerial monitoring committee comprising OPEC members Algeria, Kuwait, Venezuela, the current OPEC president Saudi Arabia and non-OPEC producers Russia and Oman made a recommendation to keep the cuts "at the same level".

The committee also recommended extending the cuts by nine months to March 2018.