InfoAnda - OPEC likely to delay output cut decision to December

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

CORRECTED: Kurd polls keep status quo, U.S. urges Iraq peace | International | | 30 July 2009
Pakistan says 13 soldiers killed in friendly fire incident | | 29 March 2011
Berlusconi promises funds for garbage protest town | 23 October 2010

Tens of thousands protest in Iran, battling police | 8 December 2009

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

Read more with google mobile : OPEC likely to delay output cut decision to December

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: OPEC likely to delay output cut decision to December AFP - Saturday, November 29 CAIRO (AFP) - - OPEC will probably wait until December to decide whether to cut output, ministers said on Friday, ahead of a meeting to review conditions in a market said to be awash with oil. Organisation of Petroleum Exporting Countries ministers are to meet in Cairo on Saturday amid pressure for production cuts to stem heavy oil price losses, which continued to mount on Friday. Iran, Kuwait, Nigeria and Qatar said any decision to cut output would be made at the next scheduled meeting in Oran, Algeria on December 17. But Libyan Oil Minister Shukri Ghanem said that while Saturday's meeting was meant to be consultative, a decision to cut output should not be ruled out. "We should study figures on supply and demand (and on) the increase in stocks," Ghanem said, "but that does not exclude the possibility of a decision" to cut production. He added, however, that "certains members think it prudent to wait until things are clearer." Venezuelan Oil Minister Rafael Ramirez said OPEC should cut production by "at least one million barrels" per day before year-end. "Maybe we need a cut. But we have to decide when -- if tomorrow or in the next meeting in Algeria," Ramirez told reporters. Iran's Gholam Hossein Nozari declined to be drawn on the size of a production cut, although Iran has been pushing for a reduction of 1.0-1.5 million barrels per day (bpd). "Here (in Cairo) we will prepare some data and maybe the final decision will be in Algeria," Iran's Nozari told reporters. Hawkish Iran is a powerful voice because it is the second-biggest crude producer after OPEC kingpin Saudi Arabia. The Saudis have yet to state their position. Nigeria's Odein Ajumogobia added: "This is a consultative meeting. I don't think there is going to be any earth-shaking decision." Qatar's Abdullah al-Attiyah said a decision "will likely be taken in Algeria" to cut production to shore up prices. "We have to discuss the statistics... We will go to Oran. We are here to talk." Only last month, ministers agreed in Vienna to reduce production by 1.5 million bpd, but the market has continued to slump. OPEC, which pumps 40 percent of the world's oil, has seen prices collapse by about two-thirds since record highs of around 147 dollars a barrel reached in July. That has slashed revenue for members as a worldwide economic slowdown took hold and ravaged energy demand. Last week, prices hit their lowest levels since early 2005. OPEC officials and ministers are also saying the world is awash with more than adequate crude supplies, with Attiyah saying "oil stocks are high ... the highest average in the past five years." OPEC Secretary General Abdalla Salem El-Badri, also in Cairo for the talks, said the "market is over-supplied." In Friday trading, light sweet crude for delivery in January was down 1.86 dollars to 52.58 dollars a barrel on the New York Mercantile Exchange (NYMEX). On London's InterContinental Exchange (ICE), Brent North Sea crude for January dropped 78 cents to 52.35 dollars. Kuwait's Mohammad al-Olaim said he believes OPEC needs to review more information before taking a decision on production, but added that a decision to cut would probably be take in in Oran. "There is a surplus on the market and everyone knows that, and the decline in demand is there and it is a big amount ... because of the global economic crisis," Olaim said. Venezuela's Ramirez said Saturday's meeting would also discuss OPEC members' compliance with the cut that was implemented on November 1. "Tomorrow we will see compliance," he said. Many market analysts believe the most recent OPEC output cut has not been fully implemented by all member nations. Official OPEC output, without Iraq, currently stands at 27.3 million bpd. 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 struggles to find balance in oil marketAP - Saturday, November 29 Oil ends week on a flat note as OPEC gathersAP - Saturday, November 29 OPEC says oil stocks high but might delay cut until DecemberAFP - Saturday, November 29 Slight fall for oil in quiet Asian tradeAFP - Friday, November 28 Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Top Stories Viewed US clears Bank of America deal for Merrill Lynch US president's mother 'doing very well' in hospital: Laura Bush Love handles increase death risk: study Michael Jackson strikes 'amicable' deal with Arab sheikh Obama vows 'help is on the way' for the economy View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Friday, 28 November 2008
SKorean court grants coma patient right to die
Japan orders end to Iraq air mission
Thailand to negotiate with airport protesters
Pakistan, India ties chill after attacks
SKorea receives first Patriot missiles: air force
SAF soldiers training northeast of Mumbai safe
Tales of terror emerge from Mumbai ordeal
Gunmen kill former Taliban spokesman
Sri Lanka troops slowed by rain in battle for Tiger HQ: military
AIDS cases in Asia to hit 10 mln by 2010: experts
S$17m for 13 research projects on new water treatment technologies
First National Bikers’ Weekend opens in Singapore
Strong earthquake rattles western Indonesia
TB rising in Singapore, contact tracing to be implemented
Strong 6.0 quake strikes off Indonesia's Sumatra: USGS
Pakistan, India ties risk chill after attacks
Roger Kwok & Moses Chan
Singapore, Sweden sign MOU on regulation of health products
Floods kill 13 in central Vietnam
Singapore well-placed amid slowdown, central bank says
Loletta Chu remarries in Singapore
Two days to Lee Guitars, Chang Chen-Yue down with viral infection
Lebanon to establish ties with 'Palestine'
Qaeda's Zawahri says U.S. wars behind financial crisis | International |
U.S. says Syria copying Iran nuclear cover-up tactics | International |
Zimbabwe parties agree on power-sharing bill: MDC | International |
Iraq presidency to review US pact in two weeks
Afghans riot in Kabul after troops kill civilian | International |
UN: Taliban profiting massively from drugs
Magnitude 6.0 quake hits Indonesia's Sumatra | International |
Massive explosion shakes Mumbai Jewish center
Ethiopia to pull troops out of Somalia this year | International |
Report: China tycoon allegedly manipulated shares
India: 8 foreigners known killed in Mumbai
IMF says no new Pakistani agriculture tax
Burundi albinos live in fear of killers | International |
Gunmen kill former Taliban spokesman
Taiwan top financial regulator chairman steps down
Boys’ Brigade Sharity Gift Box unveiled by President Nathan
Thai stocks jump on hopes for political resolution
Japan PM pressured to spend more to fix economy
Bank of China expands into Switzerland
Indian commandos end siege of luxury hotel
Cathay to park freighters, offer unpaid leave
Philippines to continue peace effort despite Malaysian withdrawal
India's economic growth slows to 7.6 percent
HK stock index rises for 4th straight day
Wu Jiahui clinches music awards in Malaysia
UN: Taliban could clear $500M from 2008 drug trade
Thai government demotes national police chief
Indian commandos storm besieged Jewish center
ASEAN head travels to protest-hit Thailand to 'clarify' summit
Pakistan spy chief to aid Mumbai investigation
Thai Muslims leave aboard special flight for hajj
AVA orders recall of whole wheat biscuits
Preparations for Asian Youth Games on track despite financial crisis
SKorean train makes last trip to North
Indian comandoes end siege of Mumbai hotel
Team International, Team Asia tied at 3—3 after Day 1 of Lexus Cup
Suicide blast kills 7 in northwest Pakistan
Tykwer's 'The International' to open Berlin fest
MUIS says Muslims can practise yoga for health, physical benefits
Massive explosion shakes Mumbai Jewish center
Thai government demotes national police chief
Thai PM sacks police chief amid protests
Chinese researcher executed on spying charges
Report: 5 hostages die in Mumbai Jewish center
SAF soldiers training northeast of Mumbai safe
Singaporean held hostage at Mumbai’s Oberoi Hotel killed
S’poreans recount harrowing experience at Mumbai’s Taj Mahal Hotel
CD of songs based on late pope's poems on sale
Demonstrators in Krygyzstan sentenced to prison
Official: Taliban kill 13 Afghan troops in ambush
Fewer dengue cases as control measures take effect
Singaporean hostage dies in Mumbai attacks
Turkmens, Azeris to help boost energy security
OCBC adds 5 Sunday Banking branches in key residential areas
Hostages said dead in Mumbai Jewish center
Thai government removes national police chief
Commandos battle well-trained, ruthless gunmen
Sri Lanka says 5 rebels killed in fighting
China executes Taiwan spy suspect
Twitter, blogs provide riveting accounts of Mumbai attacks
Russian regional governor calls on SM Goh at Istana
S$1m worth of heroin seized in drug bust
US retailers slash prices -- and pray
Dutch "magic mushroom" vendors lose court bid against ban
Firms urged not to scale back on corporate social responsibility
Pakistan spy chief to aid Mumbai investigation
Two special commercial flights to bring stranded S’poreans home from Thailand
China's execution of alleged spy harms rights dialogue: EU
'Miracle Worker' playwright Gibson dies: funeral home
Signature of Beatles' Eleanor Rigby goes under hammer
Singaporean held hostage at Mumbai’s Oberoi Hotel killed
China forced to act over Sarkozy-Dalai Lama meeting: spokesman
Hostages said dead in Mumbai Jewish center
Thai protesters defiant as police boost presence
Sex invariably spells trouble, says Dalai Lama
View at 'The View'? Happy, says Barbara Walters
US urges an end to airport takeovers in Thailand
Whitney Houston denies reunion with ex Bobby Brown
Former Thai PM warns that coup would be bloody
US urges end to airport takeovers in Thailand
Postwar rapes of German women confronted in new film
Slow London auctions suggest Russian art frenzy is over
Thai protesters defiant as police boost presence
India blames "elements" in Pakistan for attacks
DeVotchKa heads to ski slopes, instruments in tow
Mumbai survivor: 'There were bodies everywhere'
Stage actress Patricia Marand dies at 74
Indian forces fight last gunmen in Mumbai hotel
Thai protesters defiant as police boost presence
Iraq's PM may be weakened by dealmaking over pact
Israeli troops wound three in Gaza: medics
650 migrants in land on Italian island in matter of hours: coastguard
Iraq: Suicide bomber kills 12 south of Baghdad
Amazon deforestation up almost 4.0 percent
Clashes kill at least 20 in Nigerian city of Jos | International |
Bomber strikes Shiite mosque after Iraq approves US pact
World's oldest person dies at 115 years
U.S. ambassador to Libya to arrive in December | International |
OPEC likely to delay output cut decision to December
U.N.'s Ban urges world to think big on global crises | International |
Mortar bombs hurt 6 Israeli troops on Gaza border | International |
U.N. envoy makes fresh bid to broker Congo peace | International |
Space shuttle unlocks from ISS
Colombia, led by Betancourt, protests kidnappings | International |
Apple offers limited Black Friday price cuts | Technology |
New, old media good for each other, Huffington says | Technology |
Baidu vows overhaul after search scandal | Technology |
OPEC struggles to find balance in oil market
Oil ends week on a flat note as OPEC gathers
Chipmakers squeezed as downturn bites harder | Technology |
OPEC likely to delay output cut decision to December
MTV's AIDS awareness campaign turns 10 | Entertainment |
Miracle Worker playwright William Gibson dies | Entertainment |
Just A Minute With: John Travolta on music, movies, misses | Entertainment |
Tenor Placido Domingo sings poems by Pope John Paul | Entertainment |
Cliff Richard's Shadows to reunite for tour | Entertainment |
Film shows awe and agony of ship breaking world | Entertainment |
Soccer helps Afghan girls reclaim some freedom | Entertainment |
More Japanese men than women looking for love at Xmas
Strike threat hangs over La Scala gala opening
Gunfire, blasts at Mumbai hotel as militants fight to death
Shock and sadness at Singaporean hostage’s death
Singaporeans in Mumbai recount their plight as they return home
Singaporean hostage killed in Mumbai
Australian airliner shuts down engine, aborts flight to Singapore
Fierce gunfire in Mumbai Taj hotel, major blaze: AFP reporter
Fighting escalates at Taj Mahal in Mumbai standoff
Report: Siege at Taj hotel over in India
Indian forces fight last gunmen in hotel
Thai protesters defiant as police boost presence
Mumbai attack is over, all militants dead: city police chief
North Korea condemns terror attacks in India
Terror, disbelief, shock: witnesses tell of Mumbai horror
Anti-government protesters abduct police officer
Indian police say siege at Taj over
TV Lookout: highlights for Nov. 30-Dec. 6
Thai airport protesters defy orders to leave
Indian forces end Mumbai siege
Two UN contractors killed in Baghdad mortar attack
Troops kill 33 rebels in Afghanistan: coalition
Commandos mop up last of Mumbai militants | International |
Medvedev ends LatAm tour meeting with Fidel Castro
Saudi king says 75 dollar oil price 'fair'
Thai protesters force police to abandon checkpoint | International |
Russian leader meets Fidel Castro in Cuba | International |
Global whaling body to begin talks in December: report
OPEC set to bide time over output cut
Press and Psy Ops to merge at NATO Afghan HQ: sources | International |
Indian forces kill last gunmen in Mumbai
Malaysia's Anwar still wants to unseat government
Shanghai to break ground on new tallest building
Thai protesters abduct police officer at airport
PM Lee, President Nathan send condolences to family of Lo Hwei Yen
DPM S Jayakumar visits Puhaindran family to offer condolences
Navy investigating ship found with corpse on board
Pakistan U-turns on sending spy chief to India
Sri Lanka says 4 killed in floods
Sean Penn offers warm Milk to movie fans | Entertainment |
Saudi king says 75 dollar oil price 'fair'
OPEC set to bide time over output cut
Global Weather-Celsius
Executed Taiwan man's family 'comforted' by US, EU support
Weather forecast for the Asia-Pacific region
Thai protesters abduct police officer at airport
Report: Japan resumes whale meat imports
NZ won't quickly rescue hurt whalers, protesters
US: Taliban commander killed in Afghanistan
Japan's Oda keeps Casio Open lead
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