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OPEC needs oil above 50 dollars, more cuts possible: sec gen

Posted on 30 January 2009

From AFP: Organization of the Petroleum Exporting Countries (OPEC) members need an oil price above 50 dollars a barrel to make exports worthwhile, the head of the cartel said Thursday, adding that more production cuts were possible later this year.

“We are not happy with 40 even 50 dollars a barrel,” OPE Secretary General Abdalla Salem El-Badri told a panel discussing energy security at the World Economic Forum in Davos….. Full Article: Source


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