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| AP Interview: OPEC head predicts output cuts |
| 2008-12-06 |
| Oil markets should brace for a surprise decision on output cuts when OPEC meets Dec. 17, the cartel's president said Saturday, suggesting that reductions could be deeper than expected. "A consensus has formed for a significant reduction of production levels" by the 14-member Organization of Petroleum Exporting Countries, OPEC President Chakib Khelil told The Associated Press. The OPEC head would not discuss how deep the output cut would be, but said it could be "severe," and noted that some analysts are predicting cuts of as much as 2 million barrels per day. An output decision that startles markets would help bolster plunging oil rates, Khelil said. "The best way is to surprise them," he said. "I hope it (the decision) will," ... |
| Posted by:ed |
| #6 Please add the NYC Amish China lobby to Opeckers. |
| Posted by: Besoeker 2008-12-06 17:14 |
| #5 The Big O could be a bloody hero by getting the country on a path to REAL energy independence. But he is beholden to too many moneyed backers who are calling the tune. It is obvious that GWB did not touch the saudis, and I would imagine that there is a saudi influence with the Big O, also. Look at Jimmuh and Willie, where do they get their money? We are well and truly f*cked until we break loose from the Opeckers. |
| Posted by: Alaska Paul 2008-12-06 17:11 |
| #4 Just a test of the new format - my last comment didn't pick up my nic... |
| Posted by: Fester Ulaling5555 2008-12-06 14:26 |
| #3 If the Obamessiah's going to throw a few trillion down the drainpipe to "revive the economy", I hope at least some of it's going into efforts to break OPEC's spine once and for all. The Mideast oil ticks - and the terrorists they bankroll - will still be a problem going forward because of the mountains of cash they already have salted away in Geneva, but at least we won't keep adding to the problem... |
| Posted by: Fester Ulaling5555 2008-12-06 14:22 |
| #2 Yeah, no one in OPEC will cheat to offset the cuts. Riiiight. |
| Posted by: Hellfish 2008-12-06 12:44 |
| #1 Nose...get ready to part company with face. |
| Posted by: Lumpy Grolump7269 2008-12-06 12:38 |