| From Godubai.com: Opec may need to cut its oil output more but it remained too early to tell if a further reduction was needed, Iran's Opec governor Mohammad Ali Khatibi said. "It is too soon to say whether Opec's November cut agreement has been successful. We should wait and see," Khatibi said.
"But if crude prices continue to fall, then an additional Opec cut may be needed." The producer group agreed to cut output from Nov. 1 by 1.5 million barrels per day (bpd) after oil prices dived from a July record of $147 a barrel to less than half that. US crude was trading around $68 a barrel on Wednesday..... Full Article: Source
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