OPEC to make oil output cut.

[Jacka Senior Member Find all posts View Profile Close Jacka]

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

[Robert Administrator Find all posts View Profile Close Robert]

OPEC to make oil output cut

Hey Jacka, I'll move this into the "biodiesel in the news" section as I reckon it would be much happier in there.

[Jacka Senior Member Find all posts View Profile Close Jacka]

Re: OPEC to make oil output cut

I ALMOST put it in there but I thought Hmm maybe not. Oh well you did it and yeah it prob is much happier in here

[morris Member Find all posts View Profile Close morris]

Re: OPEC to make oil output cut.

This is terrific news. Thanks for post it Jacka. As much as I agree it is bad for the economy, perservation of fossil resources is an intelligent move, and possibly the only way consumers will become more conscientious of their usage. ML