| If a recent decision by the Organization of the Petroleum Exporting Countries (OPEC) to freeze oil output would be confirmed at the upcoming meeting in November, it may increase the prices by $10-15 per barrel, Venezuelan Oil Minister Eulogio Del Pino said.
Last week, OPEC member states agreed to freeze daily oil output at 32.5-33 million barrels per day for the whole cartel in an attempt to stabilize falling oil prices. The final decision must be taken on November 30 in Vienna. "We hope this will stabilize prices in a range between $10-15 dollars per barrel above the price level that we had on average in September," Del Pino said, as quoted on the Oil Ministry official website.......................................Full Article: Source
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