InfoAnda - OPEC president: Oil cuts likely if no price rally

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

EU conservatives want strong euro, open on Irish rates | 5 March 2011
FACTBOX-South Korea's faltering economic reforms | 21 December 2008
Woes pile up for family of U.S. contractor in Cuba | | 25 February 2011

Can't decide which handbag to buy? Rent it first | 22 March 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : OPEC president: Oil cuts likely if no price rally

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: OPEC president: Oil cuts likely if no price rally By ALFRED de MONTESQUIOU,Associated Press Writer AP - Sunday, November 9 ALGIERS, Algeria - OPEC nations could further reduce oil output if moves last month to slash production do not bolster plummeting oil prices, OPEC president Chakib Khelil said Saturday. Khelil, who is also Algeria's energy minister, said an OPEC report would show by the end of the month whether all cartel members have enforced the daily 1.5 million barrel reduction decided in October. He said he hoped the production cut would raise and stabilize prices at a level manageable for both oil-exporting countries and consumer nations. Reasonable prices should range "between $70 and $90 per barrel," said Khelil, who currently holds the rotating presidency of the Organization of Petroleum Exporting Countries. Oil prices have traded at around $60 a barrel this week. On the New York Mercantile Exchange, light, sweet crude for December settled at $61.04 a barrel on Friday, but the contract dropped below $60 in overnight electronic trading for the first time in 19 months. That was down dramatically from record highs of more than $140 a barrel in July. But predicted recession in the U.S. and Europe means demand for oil will continue to decline, Khelil told a news conference in Algiers, adding that rising energy needs in China and India would not be enough to boost oil prices. OPEC countries "will therefore probably continue to reduce their production, in order to maintain a balance between supply and demand, at least through the beginning of 2009," Khelil said. This policy is not fully decided yet, and Khelil said further output decisions would likely depend on how markets react to the current cut once it is fully enforced. The minister is preparing to host OPEC's yearly summit, due in the western Algerian town of Oran on Dec. 17. Price stability is crucial to countries like Algeria, where more than 95 percent of revenue comes from hydrocarbon exports. The North African nation has the eighth-largest reserves of natural gas, and ranks 14th in oil reserves. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike OPEC president: Oil cuts likely if no price rallyAP - Sunday, November 9 LUKOIL may halve '09 capex if oil under $45Reuters - Saturday, November 8 Russia's MICEX jumps 13 pct after long weekendReuters - Wednesday, November 5 Brent oil falls below 60 dollars in Asian tradeAFP - Tuesday, November 4 Related Articles: Business NZ investors seen cheered by election resultReuters - 41 minutes ago SNAPSHOT - Financial Crisis - 2250 GMTReuters - 2 hours 12 minutes ago RPT-MONEY MARKETS-Economic woes trump falling interbank ratesReuters - 2 hours 23 minutes ago Emerging economies press for greater role in financial overhaulAFP - Sunday, November 9 More bad news likely in store for AC casinosAP - Sunday, November 9 Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Business Viewed Obama: First pooch may be mutt 'like me' Obama rules out new cabinet picks as jobless rate jumps GM warns of cash crunch, appeals for bailout Among Obama's next challenges: his own security US doctors tell Liu Xiang he needs surgery View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Saturday, 8 November 2008
Internet revolution that elected Obama could save Earth: Gore
Mideast Quartet to discuss stymied peace process
John Key's National ahead in New Zealand election
Hurricane Paloma turns dangerous | International |
Finance chiefs eye first steps in revamping global system
European MPs reach blockaded Gaza by sea
Hamas leader ready to talk to Obama | International |
Taliban militants kill two 'spies' in Pakistan: officials
New Zealand's defeated PM resigns as party leader | International |
Suicide bombing kills 8 in western Iraq | International |
Hundreds clash with police in China's Shenzhen | International |
Britain pulls visas for Thaksin and wife | International |
Somali pirates hijack Danish-operated ship with 13 crew | International |
Rice tours flashpoint West Bank town
Obama climate policy caught in Democratic tussle
Relatives of Bali bombers seek final prison visit | International |
Obama vows to go ahead with missile shield: Polish president
Rice visits former Palestinian militant stronghold
Cambodia and Vietnam agree rail link: Foreign Minister
Senior Al-Qaeda member killed in Iraq: US
Toughest of jobs: 3 seek to be Jerusalem mayor
Indonesia executes three Bali bombers by firing squad | International |
Germany's LBBW bank has 1 bn euros in Iceland: report
Israeli forces and Hamas gunmen exchange fire
Death toll passes 90 in Haiti school collapse | International |
Thousands gather in Israel to mark Rabin killing
At least 20 die in accident on Russian nuclear sub | International |
Iraq official urges approval of US security accord
Iran slams Obama's tough language on nuclear arms
New Zealand PM-elect Key starts work on new govt | International |
Five Iraqis killed in suicide attack
Kidnapped Canadian journalist free in Afghanistan | International |
Party tussle ensnares Obama's global warming goals
Hurricane Paloma makes landfall in Cuba: meteorologists
Iran speaker criticizes Obama's nuclear remarks | International |
US military deaths in Iraq war at 4,192
Poland's last communist chief and PM dead at 82 | International |
US, Russian diplomats seek to ease tensions
Obama backs shield only if technology proven: aide | International |
Mideast mediators meet to save peace process
Obama makes 'no commitment' on missile shield
OPEC president: Oil cuts likely if no price rally
Iraqi council OKs Christian quota bill
Indonesia execution of Bali bombers sparks clashes | International |
Obama to preside over White House 2.0
Mideast Quartet takes stock of peace process
Hurricane Paloma batters Cuba, weakens | International |
Porsche hits record results on the back of VW shares
Obama will take to Internet as Roosevelt took to radio
Documents expose Prince William RAF training row: report
Serbian Orthodox Church faces key decision | International |
US asks Venezuelan diplomats in Houston to leave
New Zealand enters new era of conservative rule
Obama keeps people guessing on missile shield amid Russian threats
Hurricane Paloma weakens as it lashes Cuba
NEWSMAKER-No-nonsense banker at helm of Pakistan's economy
NZ investors seen cheered by election result
Egypt police quiz bin Laden son on asylum bid
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01