ID :
36218
Thu, 12/18/2008 - 13:15
Auther :
Shortlink :
https://oananews.org//node/36218
The shortlink copeid
AZERI DELEGATION ATTENDS OPEC GATHERING
Baku, 17 December,(AzerTAj) - The meeting of the representatives of OPEC member countries (Organization of the Petroleum Exporting Countries) and other oil producing world countries commenced today in Algeria.
Azerbaijan is represented by a delegation headed by Natig Aliyev, the Industry and Energy Minister of country.
The OPEC member countries are expected to have large discussions on reduction of oil
output.
Algeria's Oil Minister and OPEC President Chakib Khelil said there was an OPEC
consensus ahead of a formal agreement later in the day for the cut.
An official decision to cut 2 million barrels from output all at once would be a
first for the organization. OPEC had cut that amount from its output four years ago,
but that was done in two stages. The OPEC members can reduce daily production up to
500 thousand bpd. The oil price will, thus, reach $75, Mr. Khelil underlined.
-0-
Azerbaijan is represented by a delegation headed by Natig Aliyev, the Industry and Energy Minister of country.
The OPEC member countries are expected to have large discussions on reduction of oil
output.
Algeria's Oil Minister and OPEC President Chakib Khelil said there was an OPEC
consensus ahead of a formal agreement later in the day for the cut.
An official decision to cut 2 million barrels from output all at once would be a
first for the organization. OPEC had cut that amount from its output four years ago,
but that was done in two stages. The OPEC members can reduce daily production up to
500 thousand bpd. The oil price will, thus, reach $75, Mr. Khelil underlined.
-0-
