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Commodities Briefing - Categorized | Oil, Regulatory more

OPEC could act if oil very low in May

Posted on 17 March 2009

From Arabianbusiness.com: OPEC oil producers may be forced to take a “drastic decision” when they meet again in May if oil prices are still very low, OPEC Secretary-General Abdullah Al Badri said on Monday.

Badri told Reuters Financial Television in an interview that oil prices, now trading between $40 and $50 per barrel, were well below the level needed by the oil industry to allow vital investment….. Full Article: Source


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