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OPEC cuts more likely in December

Posted on 17 November 2008

From Reuters: OPEC may have to wait until December to take action to reach a preferred oil price range of $70-$90 a barrel because the effect of its latest cuts is not yet clear, the group’s president said on Sunday.

Chakib Khelil told a press conference that he saw a meeting of OPEC ministers in Cairo later in November as more of a brainstorming session that might formulate recommendations for action at OPEC’s gathering at Oran, Algeria on Dec. 17….. Full Article: Source


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