Saudi to reduce 500,000 bpd oil exports in December

Saudi Arabia said it will trim oil exports by 500,000 barrels per day in December, as major producers met Sunday to consider cuts to shore up sagging prices.

"The kingdom's crude exports for December will be 500,000 bpd lower than November," Saudi Energy Minister Khalid al-Falih told reporters at the meeting in Abu Dhabi.

The world's top oil exporter has been pumping 10.7 million bpd since October, according to Falih.

(With inputs from agencies.)