21.11.2012 - Pressure mounts within OPEC to comply with ceiling
Voices urging the Organization of Petroleum Exporting Countries to comply with its production ceiling are growing louder within the group as price fears mount, with some delegates from both sides of the Persian Gulf concurring OPEC should act against oversupply. In a rare display of agreement, three OPEC delegates--from Iran and Gulf Arab countries--said the group should deal with excess amounts of oil in the market when it meets next month. "OPEC is producing at least 500,000 barrels a day more than needed so it would actually need to respect its ceiling, not increase it," one delegate from the region said.............................................Full Article: Source
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