OPEC to make oil output cut
Friday Oct 6 07:58 AEST
OPEC to make oil output cut
OPEC will take one million barrels of oil a day off oversupplied world markets as soon as possible with its first output cut in more than two years, OPEC officials said on Thursday, sending oil prices back above $US60($A80).
Leading oil exporter Saudi Arabia will shoulder the biggest part of the burden as OPEC moves to address a 23 per cent drop in prices since July 14 and fuel stocks at a 7-year high in top consumer the United States, a senior OPEC delegate told Reuters.
More on the site. Good news for BD but really bad for the economy Great news for use round here
Friday Oct 6 07:58 AEST
OPEC to make oil output cut
OPEC will take one million barrels of oil a day off oversupplied world markets as soon as possible with its first output cut in more than two years, OPEC officials said on Thursday, sending oil prices back above $US60($A80).
Leading oil exporter Saudi Arabia will shoulder the biggest part of the burden as OPEC moves to address a 23 per cent drop in prices since July 14 and fuel stocks at a 7-year high in top consumer the United States, a senior OPEC delegate told Reuters.
More on the site. Good news for BD but really bad for the economy Great news for use round here
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