Latest Chakib Khelil Stories
The president of the Organization of Petroleum Exporting Countries said that production cuts would be considered in unofficial meetings in Cairo this week. Chakib Khelil, president of OPEC and the Algerian Minister of Energy and Mines, said Saturday's meetings would have crude oil production cuts on the agenda, the Kuwait News Agency reported Wednesday. OPEC trimmed production by 1.5 million barrels a day in October in an effort to prop up oil prices, which have fallen to under $50 a barrel...
December may be too early for the Organization of Petroleum Exporting Counties ministers to decide on production cuts, a Libyan oil official says. OPEC members cut production by 1.5 million barrels a day in October to prop up prices as world demand has fallen in a time of floundering economies.
According to El-Khabar newspaper (October 2, 2008), the Algerian Minister of Energy and Mines, Mr. Chakib Khelil, said that any potential drop of oil prices during the two next coming years won't affect the national economy of Algeria, which has a foreign currency reserves of $133 billion.
OPEC's decision to cut oil production, announced early in the morning on Sept. 10, took most analysts by surprise.
By Jad Mouawad In an unexpected decision made after a six-hour meeting that lasted into the early morning, the OPEC oil cartel said Wednesday that it would reduce its oil production by about half a million barrels a day in a bid to stem a rapid decline in oil prices in recent weeks.
The Associated Press VIENNA, Austria Oil ministers with the Organization of Petroleum Exporting Countries have decided to curb production by more than 500,000 barrels a day.
By Barbara Hagenbaugh WASHINGTON -- U.S. consumers are expected to pay far more to heat their homes this winter than ever before, but recent energy price declines mean the tab won't be as huge as earlier thought, the government said Tuesday.
Indonesia, despite having become a net oil importer, has put off plans to leave the Organization of Petroleum Exporting Countries.
Oil prices are still abnormally high, and members of the Organization of Petroleum Exporting Countries should not cut supplies if they continue to fall as the oil market is now in balance, Chakib Khelil, the president of the organization, said Tuesday.
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