OPEC faces vital output meet, Algeria calls for deep cut


	OPEC faces vital output meet, Algeria calls for deep cut

tabsey

3-15-2009 9:01 AM

115 views

tags:

selling, price

tabsey says:

The prices haven't gone down enough so someone is making large profits.

Add a Comment

Login to Comment. Not a member yet? Sign up

Today's Top Clips

visit the Top Clips page

View the Top Clips from March 15, 2009

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3771adc6-2b22-4a96-a4bc-51b34d42b838/0128A75E-9E2C-42E9-B304-2739B80921F6/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm" href="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm" style="font-size: 11px;">www.abc.net.au</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm"><P class="first">OPEC ministers held a crucial meeting as Algeria said the 12-nation cartel would agree to cut daily output by between 1 million and 1.5 million barrels to defend weak oil prices.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm"><P>OPEC, which has already slashed its output three times since September as crude prices slumped in line with a global economic downturn, was also expected to call for compliance with the 4.2 million barrels of cuts agreed last year.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm"><P>Cartel president Jose Maria Botelho de Vasconcelos meanwhile warned of a dire global economic outlook that would badly affect both oil consumers and producers.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm"><P>"There will be a consensus" to cut production, said Algeria's energy minister Chakib Khelil.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm"><P>"The market expects a cut between 0.5 to 1.5 million barrels per day," added Mr Khelil, who was OPEC president last year.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm"><P>"How much we are going to cut is a decision we will make in the meeting."</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abc.net.au/news/stories/2009/03/15/2516740.htm"><P>Meanwhile Libyan OPEC representative Shukri Ghanem said that he "of course supports a cut."</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/0128A75E-9E2C-42E9-B304-2739B80921F6/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

New from the makers of Clipmarks: Amplify.com - Don't just share the news...Amplify it!

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Copyright; Privacy; EULA

Search Options

Today's Top Clips