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Commodities Briefing - Categorized | Oil, Regulatory more

Opec opts for moderate prices for now

Posted on 30 March 2009

From Zawya.com: Opec ruled out a fourth output cut at its meeting early this month because it does not want to trigger a sharp rise in prices that would further damage global oil demand, a key energy research centre said yesterday.

Instead, the world’s oil superpower Saudi Arabia and other key members of the 12-nation Organisation of Petroleum Exporting Countries stressed the need for compliance with recent decisions on output reduction to prevent a further slide crude prices, the London-based Centre for Global Energy Studies (CGES) said in its monthly market report…..Full Article: Source


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