Home / Video / Breaking News / World Tools: Save | Print | E-mail | Most Read | Comment
OPEC: Production cuts unlikely this month
Adjust font size:

 

More oil output reductions aren't likely to take place this month, because OPEC members haven't fully enforced previous quotas.

OPEC President Chakib Khelil made the comments on Sunday, following an Iranian call for a new output cut of at least one million barrels a day -- this in addition to the 1.5 million cut already decided by the organization last month, in a move aimed to stop oil prices from dropping further.

The OPEC logo and flag at the cartel's headquarters in Vienna. [Barbara Gindl/AFP/File]

The OPEC logo and flag at the cartel's headquarters in Vienna. [Barbara Gindl/AFP/File] 

The Iranian proposal raised the likelihood that the 13-member cartel will decide to further diminish production during its special session in Cairo on November 29th.

But Khelil said more data must be collected on current output levels before a decision can be reached.

(CCTV November 17, 2008)

 

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Iran proposes OPEC oil cut of 1-1.5 mln bpd
- OPEC to hold meeting in Cairo on Nov. 29
- OPEC says further oil output cut likely
- OPEC agrees to cut oil output
Most popular >>
G20 leaders arrive in Washington for summit
Curtain brought down on Beijing Fashion Week Curtain brought down on Beijing Fashion Week
Chinese elements shine in Int´l Jewellery Fair
Beijing Olympic Forest Park opens to the public
Han Xue: A rising star Han Xue: A rising star
Recommended >>
Obama song sparks YouTube debate
Victoria's Secret Fashion Show
Chinese Belt Buckles in Musee Guimet
'Monkey: Journey to the West' premiers in London
1st photos of planets outside solar system

Product Directory
China Search
Country Search
Hot Buys