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Commodities Briefing - Categorized | Oil, Regulatory more

Crude rises after Opec maintains quotas

Posted on 17 March 2009

From FT: Oil prices rose on Monday after Opec decided to maintain its current output quotas at its weekend meeting in Vienna but left the door open for more supply cuts this year if the market remained weak.

Abdalla el-Badri, Opec secretary-general, said: “We took into consideration what is happening in the world.” He warned that the cartel could take “drastic action” at its next meeting in May if prices stayed low….. Full Article: Source


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