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| OPEC Cuts Oil Production by 1.2M Barrels |
| 2006-10-20 |
 The oil cartel OPEC has decided to cut production by 1.2 million barrels a day, the United Arab Emirates' oil minister said Friday. Mohammed Bin Dhaen al-Hamily made the announcement at a news conference after OPEC's oil ministers held an emergency meeting in the capital of Qatar.The output cut is aimed at boosting prices, which have declined more than 25 percent since mid-July. |
| Posted by:Steve White |
| #3 Yep, Chavez can't even make quota - in theory that shouldn't matter since this is supposed to be a shared production cut. |
| Posted by: Shipman 2006-10-20 11:05 |
| #2 Imaginary. Saudi Arabia, Kuwait, and Nigeria are not going to go without the cash. As a matter of fact, the last time the Iranians announced a "cut", it was because of a major pipeline problem they were having. Chavez is pulling the same crap, since the oil fields and pipelines are now have issues since he kick all the foreigners out. |
| Posted by: Shieldwolf 2006-10-20 02:21 |
| #1 A real cut or imagined one? |
| Posted by: 3dc 2006-10-20 02:01 |