Thursday, January 31, 2008

Expect Increasing Oil Prices - OPEC

OPEC Plans to Maintain Output, Consider Cuts in March

"The leaders will delay until March deliberations on a supply cut to bolster prices, which have slipped 8 percent from a record $100.09 a barrel on Jan. 3.

``If prices continue to fall as we've seen in Venezuela until now, then we'd probably be prepared to propose a cut at the next OPEC meeting in March,'' Venezuelan Oil Minister Rafael Ramirez told reporters in Vienna yesterday."

Awwwww, poor OPEC Oil Producers have suffered an 8% decline in the price of their product from peak.

Thank goodness we have GW to travel over there and ask them nicely (and fruitlessly) to increase supply.

Related Posts by Categories

Widget by Hoctro | Jack Book

No comments: