News Stories Related To: Opec agrees record oil output cut in an attempt to stop falling prices
By: razak 
The oil producers' cartel Opec has agreed to make a record cut in output, slashing 2.2 million barrels per day from its current supply. Opec has made two other cuts since September,...
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- News Source: Gulfnews.com | 11 months agoThe 12 members of Opec vowed on Wednesday to remove 2.2 million barrels per day (bpd), starting in January, to halt a $100 price collapse from a July peak. "The proof of Opec's pudding this time really will be in the eating," said Simon Wardell of...
- News Source: Xinhuanet.com | 11 months agoJan. 1, bringing the total output cut in 2008 to 4.2 million bpd, in another attempt to bolster sagging oil prices under the global economic slowdown. Oil has shed more than 70 percent from its July peak of 147 dollars a barrel, as world...
- News Source: Press TV | 11 months agoPresident, Chakib Khelil, says the group is determined to continue output reduction until we can stabilize the market. "We will continue this reduction until the price will stabilize," Khelil told reporters on the sidelines of a meeting of 27 oil...
- News Source: Dawn | 11 months agoOil prices fell further on Friday as fears of economic slowdown weighed heavier than proposed production cuts by the world's major oil exporters. Light US crude for January delivery fell to $33.44, its lowest since April 2004...The more active...
- News Source: Xinhuanet.com | 11 months agoU.S. auto industry bailout plan failed to offset worries over the slumping oil demand. Light, sweet crude for January delivery, which expires on Friday, fell 2.35 dollars, or 6.5 percent, to settle at 33.87 dollars a barrel on the New York...
- News Source: Houston Chronicle | 11 months agoCrude oil dropped below $34 a barrel in New York as rising stockpiles at Cushing, Okla., leave little room to store supplies for delivery next year. Supplies at Cushing, where oil that’s traded in New York is stored, rose 21 percent to 27.5 million...
- News Source: The Financial Express | 11 months agoUS light crude for January delivery were down 51 cents at $35.71 a barrel by 1100 GMT...Oil prices have fallen by more than $110 from their peak above $147 in July...Saudi Arabia's Oil Minister Ali al-Naimi, speaking in London, said on Friday the...
- News Source: France 24 | 11 months agoAlgeria, failed to reverse the fall in crude prices which fell to four-year lows below 40 dollars a barrel on Thursday. Khelil, who is also Algeria's energy minister, said prices could have gone even lower if the Organization of Petroleum...
- News Source: News 24 | 11 months agoPresident Chakib Khelil to stress that the cartel would continue cutting output until prices stabilise. In morning trading, New York's light sweet crude for delivery in January dived as low as $33.44 a barrel, which was the lowest point since April 2...
- News Source: Asia Times | 11 months agoAt the same time, the Kremlin is playing a siren song to attract greater coordination of the international gas trade when the cartel of gas producers meets in Moscow next Tuesday, December 23.
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