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Commodities Briefing - Categorized | Oil, Regulatory more

Russia and Opec prepare to cut oil production

Posted on 11 December 2008

From Timesonline.co.uk: Russia is poised to join Opec in a co-ordinated action next week that could lead to global oil production being cut by up to two million barrels a day.

The move, designed to put a floor under a slide in crude prices of more than two thirds since July, will be announced to coincide with Opec’s meeting in Oran, Algeria, on Wednesday, according to Sergei Shmatko, the Russian Energy Minister. …. Full Article: Source


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