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OPEC may cut supply to hold budgets at $99 oil: Apicorp

Posted on 18 April 2013

OPEC will probably cut output if Brent prices keep trading below $100 a barrel because that’s less than what many member countries need to balance their budgets, an inter-governmental Arab energy lender said.
Oil prices must average $99 this year for the 12 members of the Organization of Petroleum Exporting Countries to be able to balance their national budgets, said Ali Aissaoui, a senior consultant at the Arab Petroleum Investments Corp., or Apicorp…………………………………Full Article: Source


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