VIENNA - OPEC decided to cut its oil output by 1.5 million barrels per day from November 1 at an emergency meeting here on Friday, Saudi Oil Minister Ali al-Nuaimi told reporters, as the cartel seeks to support plunging crude prices despite a looming worldwide recession.

Analysts had expected the Organization of Petroleum Exporting Countries to cut its daily output by at least one million barrels per day as a global economic slowdown amid a worsening financial crisis slashes demand for energy.