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Organization of Petroleum Exporting Countries oil ministers meeting Sunday in Vienna have decided not to institute further production cutbacks. Despite the continuing weak prices and low global demand, the OPEC ministers instead pledged to abide by a 4.2 million barrel-per-day cut instituted in December and placed hope that measures to be taken at next month's Group of 20 economic summit in London will help ease the global recession.
Organization of Petroleum Exporting Countries oil ministers met Sunday in Vienna amid a continuing fall in global demand for oil, observers said. The oil ministers were expected to grapple with whether to cut production again, which would be the fourth production cutback in six months, or risk another sharp drop in oil prices, which have fallen from $147 to $45 per barrel since summer, the BBC reported. OPEC faces a dilemma if it moves to institute another production cutback, analysts say,...
Oil ministers from major export countries enter a meeting in Vienna with diverse opinions on oil supplies and prices, various ministers said.
By ALAN EAGLESFIELD Motorists were warned today that petrol prices could hit the pounds 2 a gallon mark by Christmas.
["Today's Encounter" programme, moderated by Hatim Ghandir, interviews Shaykh Ahmad Zaki Yamani, former Saudi oil minister and head of the Centre for Global Energy Studies in London - date not given; recorded] Doha Al-Jazeera Satellite Channel Television in Arabic at 1430 gmt on 11 July carries a new episode of its weekly "Today's Encounter" programme, featuring an interview with Shaykh Ahmad Zaki Yamani, head of the Centre for Global Energy Studies in London, by Hatim Ghandir.
By Dallas Morning News JEDDAH, Saudi Arabia -- Saudi Arabia on Sunday said it would supply enough oil to meet global demand for the rest of the year, but differed sharply with the Bush administration by blaming speculators for the sharp increase in oil prices.
Text of report in English by Japan's largest news agency Kyodo [By Takuya Karube] Jedda, Saudi Arabia, June 22 Kyodo - Energy leaders from major oil exporting and consuming countries are seeking to agree Sunday in the Red Sea city of Jedda, Saudi Arabia on the need to join hands in dealing with record-high crude oil prices that are posing a serious challenge to the world economy.
The current chairman of the Organisation of Petroleum Exporting Countries, OPEC, Chakib Khelil, has said it is "illogical and irrational" to ask the oil cartel to increase output so as to curb the oil price rise, in a statement to the Algerian news agency, APS, published by the private French-language daily newspaper El Watan on its web site today, 20 June.
- A person or thing gazed at with wonder or curiosity, especially of a scornful kind.