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LONDON, Nov 3 (Reuters) - Algeria, which holds the
presidency of the Organization of the Petroleum Exporting
Countrie (OPEC), supports a possible extension to current OPEC+
oil supply cuts for the first few months of 2021 to avoid
another collapse in prices, the country's Energy Minister said
on Tuesday.
OPEC and allies led by Russia, together known as OPEC+, are
due to taper cuts of 7.7 million barrels per day (bpd) by around
2 million bpd from January.
Algerian Energy Minsiter Abdelmadjid Attar added that the
oil market is facing a "very dangerous" situation that could
lead to a price collapse from the second wave of the COVID-19
pandemic.
OPEC+ is scheduled to meet over Nov. 30 and Dec. 1 to set
policy.