Venezuela expects non-OPEC nations like Russia to join in output cuts

Venezuelan President Nicolas Maduro said on Thursday he expects non-OPEC oil-producing countries, like Russia, to support OPEC's efforts to boost oil prices by reducing crude output. The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday agreed to slightly reduce production for the first time since 2008 amid mounting pressure from low oil prices. "This agreement should be consolidated in the coming days," Maduro said in comments broadcast on state television.