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OPEC to support $100 price at next meeting

Posted on 05 December 2011

OPEC oil ministers are expected to agree on action to support crude prices at around $100 a barrel when they meet in Vienna in mid December but will unlikely discussion new quotas, a key Saudi bank has said.
The ministers of the 12-nation Organization or Petroleum Exporting Countries, meeting on December 14, will avoid talks on new quotas until Libyan production is fully restored and Saudi output is trimmed back following its unilateral increases after the last failed meeting in June, the Saudi American Bank group (SAMBA) said in its latest monthly bulletin……………………………………….Full Article: Source


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