| The Organization of the Petroleum Exporting Countries (OPEC) may decide to lower its oil output from 30 million barrels per day to 29.5 million, OPEC Secretary General Abdalla El-Badri, said on Tuesday. "I think our target next year will be lower, may be by 500,000 barrels," El-Badri told reporters at the group's headquarters in Vienna.
"This is an outlook, this is not a decision," he said, adding that the decision could be made at the next regular OPEC ministerial meeting scheduled for November 27. El-Badri reiterated he was not overly concerned about the current drop in oil prices and said he expected them to rebound by the end of this year.............................................Full Article: Source
|