Tue, Dec 23, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Oil, Resources more

OPEC to cut production by 500,000 barrels

Posted on 10 September 2013

The Organisation of Petroleum Exporting Countries(OPEC) may cut oil production by half a million barrels a day when its meets in December, the International Energy Agency(EIA) has said. The body said if all go accoridng to plans, the reduction in production would be the first in five years since the last time such exercise was carried out was 2008.
It said: “ The last time OPEC cut its oil output was in late 2008 when it reduced production to 4.2 million barrels a day. During this time, oil demand fell and prices crashed amid the financial crisis………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38584 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031