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OIL NEWS * Austria - OPEC Holds Off on More Production Cuts
Wien,Austria -AP/The Wall Street Journal (NY,USA)/Transport Topics (USA) -16 March 2009: -- OPEC plans to hold its oil output steady rather than to make deeper production cuts that were sought by some of its members... The 12-nation oil cartel will adhere to the most recent cuts that were announced in December rather making more cutbacks... OPEC previously cut 520,000 barrels a day in September, 1.5 million bbd in October and 2.2 million bbd in December... Meanwhile, Russia, the world’s second-largest oil producer behind Saudi Arabia, said Sunday it is cutting oil exports... Russia, which is not an OPEC member, is also seeking observer status for the cartel, AP reported... (Photo by rosfoto.com: Russia, Tumen region. Oil field)
Labels: oil news worldwide
posted by Unknown @ 6:28 PM
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