Monday 13 October 2014

Opec may cut oil production to stop price fall | GulfNews.com

Opec may cut oil production to stop price fall | GulfNews.com:



"Experts have predicted that oil prices are likely to fall further unless supplies are cut by the oil producing countries.



The Organisation of the Petroleum Exporting Countries (Opec) are due to meet on November 27 to take a decision on whether to cut production to stop the slide of prices.



“There are surely signs that Opec is willing to cut oil production to maintain certain price levels. The most obvious example is that cut of over 400,000 barrels per day by Saudi Arabia that was announced last August,” said Tim Boersma, a fellow of energy security initiative at the Brookings Institution in Washington."



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