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Saudi Arabia could cut production in February below Opec target

Posted on 12 January 2009

From Gulf-news.com: Top exporter Saudi Arabia plans to cut oil output by up to 300,000 barrels per day (bpd) below its agreed Opec target - a proactive step to prop up a collapsing market, industry sources said on Sunday.

The most influential member of the Organisation of the Petroleum Exporting Countries (Opec) has lowered supply this month to eight million bpd, meeting its target under Opec’s pact to reduce overall production by a record amount from January 1….. Full Article: Source


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