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Libya oil head: In talks with OPEC over members slashing output

Posted on 14 November 2011

OPEC members that raised oil output earlier this year to compensate for the loss of Libyan crude will cut back their production as the North African state keeps pumping more, the head of the country’s National Oil Co. said Sunday.
“OPEC members who increased their output following the crisis to compensate for the Libyan oil were mistaken,” NOC Chairman Nuri Berruien told Zawya Dow Jones. “They produce different type of crude and they will have to cut back as we’ve already started production again.”……………………………………….Full Article: Source


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