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Oil output cuts not likely - OPEC chief

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Oil output cuts not likely - OPEC chief
Topic: Economics 3:46 pm EST, Nov 16, 2008

ALGIERS, Algeria (AP) -- More oil output reductions aren't likely this month because OPEC members haven't yet fully enforced previous quotas and the organization needs more data before it reaches a decision, the cartel's president said Sunday.

Chakib Khelil's comments came as Iran called for a new output cut of at least 1 million barrels per day, in addition to the 1.5 million cut decided by the Organization of Petroleum Exporting Countries on Oct. 24 to try to sustain slumping prices.

Oil output cuts not likely - OPEC chief



 
 
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