OPEC, allies could cut oil output by reverting to 2016 quotas: TASS

VIENNA (Reuters) - OPEC and its allies led by Russia are discussing the idea of cutting oil output next year by reverting to production quotas agreed in 2016, Russia's TASS news agency reported on Wednesday,

citing an OPEC source.

The move would mean reducing oil production by more than 1 million barrels per day.

(Reporting by OPEC newsroom; Editing by Dale Hudson)