VIENNA (AP) — The Latest on the OPEC meeting (all times local):

10 p.m.

The OPEC oil cartel has decided to maintain its production cuts of 1.2 million barrels a day for another nine months. 

The decision at OPEC headquarters in Vienna came as the oil producing nations face potentially weaker demand from a slowing global economy. 

The decision among OPEC's members will now be taken up Tuesday in a meeting with non-OPEC members such as Russia. 

Tensions between the U.S. and Iran and attacks on tankers near the Strait of Hormuz have pushed up oil prices in recent days. Over the longer term however, demand could weaken according to the International Energy Agency, which cut its demand estimate earlier this month.

———

10:55 a.m.

The oil producers' cartel, OPEC, is considering a six- to nine-month extension of its current deal to cut production, facing a weaker demand outlook due to slowing global growth.

Member representatives are meeting Monday at OPEC headquarters in Vienna.

The head of Nigeria's delegation, Folasade Yemi-Esan, said Monday that her country "strongly endorsed" an extension of the deal for nine months, saying that would "offer greater certainty to the market." The current deal reduced production by 1.2 million barrels per day starting from Jan. 1.

Tensions between the U.S. and Iran and attacks on tankers near the Strait of Hormuz have sent oil prices higher in recent days. Over the longer term, demand could weaken according to the International Energy Agency, which cut its demand estimate earlier this month.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from this section

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.